Slovakia Business Morale Worsens to 7-Month Low

The industrial confidence indicator in Slovakia fell by 7.3 points month-on-month to -6.7 in June 2026 from 0.7 in the previous month, marking the lowest reading since November 2025. The deterioration reflected weaker assessments of expected production for the next three months (17 vs 26), particularly in wood and paper products and transport equipment. At the same time, evaluations of overall order books deteriorated further (-12 vs -8), while finished goods inventories increased (25 vs 16). Sentiment toward the current level of export order books also became more pessimistic (-15 vs -12). Meanwhile, assessment of current industrial production improved significantly (28 vs 2 in May), and the employment outlook turned positive (2 vs -1).

The industrial confidence indicator in Slovakia fell by 1.6 points month-on-month to 0.7 in May 2026, following a four-month high of 2.3 in the previous month. Expectations for future production weakened (26 vs 31 in April), primarily in the manufacture of basic pharmaceutical products. Views on stocks of finished products also eased (16 vs 22). At the same time, assessments of current order levels continued to deteriorate (-8 vs -2), reflecting weaker anticipated output in the production of coke and refined petroleum products, as well as the manufacture of other non-metallic products and machinery and equipment n.e.c. Meanwhile, assessments of current industrial production turned positive (2 vs -2), while the employment outlook improved slightly (-1 vs -6). Sentiment toward the current level of export orders remained unchanged at -14.

The industrial confidence indicator in Slovakia rose by 5.6 points month-on-month to 2.3 in April 2026, rebounding from -3.3 in the previous month and remained at its highest level since December 2025. The improvement was mainly driven by a significant increase in expected production (31 vs 9 in March), particularly in the manufacture of motor vehicles, trailers and semi-trailers, and other transport equipment (64 vs 38) and furniture, other manufacturing, and repair and installation of machinery and equipment (19 vs 12), as well as in non-metallic minerals (15 vs -9). Employment outlook also became less pessimistic (-6 vs -8), while stocks of finished products increased (22 vs 16). At the same time, firms’ assessment of current industrial production improved (-2 vs -7), and views on the current level of orders also edged higher (-2 vs -3). However, sentiment toward export orders deteriorated (-12 vs -7), pointing to weaker external demand.