Slovakia Business Morale Less Negative in September

The industrial confidence indicator in Slovakia rose by 3.3 points to -11.7 in September 2026 from a more than three-year low of -15 in the previous month. The improvement was driven by expectations for industrial production growth, which turned positive (4 vs -7 in August), particularly in the manufacture of wood and paper products (4 vs -31) and food, beverages, and tobacco products (4 vs -5). At the same time, views on stocks of finished goods became more favorable (24 vs 21), while the assessment of current order levels became less negative (-15 vs -17). The current level of export orders remained unchanged at -18. Meanwhile, firms reported a deterioration in current production (-8 vs 15) and employment expectations (-5 vs 5). The outlook for selling prices also eased (6 vs 8).

The industrial confidence indicator in Slovakia fell by 17 points to -15 in August 2026, reversing from 2.0 in the previous month and reaching its lowest level since June 2023. Assessments deteriorated further for current order levels (-17 vs -14) and current export orders (-18 vs -16), while the assessment of the trend in industrial production turned negative (-7 vs 32). At the same time, expectations eased for the trend in industrial production (15 vs 16) and product prices (8 vs 10). In contrast, current stocks of finished products increased (21 vs 12). Meanwhile, the employment outlook also weakened, easing to 5 in August from 7 in the previous month, pointing to a further deterioration in overall industrial sentiment.

The industrial confidence indicator in Slovakia rose by 8.7 points to 2.0 in July 2026, rebounding from a seven-month low of -6.7 in the previous month. The improvement was mainly driven by higher expected production (32 vs 17 in June), particularly in the manufacture of wood and paper products, electrical equipment, motor vehicles, trailers, semi-trailers, and other transport equipment. It was also supported by lower finished goods inventories (12 vs 25), mainly in the manufacture of computer, electronic and optical products. Additionally, the employment outlook continued to improve (7 vs 2). Meanwhile, the current level of orders declined further (-14 vs -12), along with export order levels (-16 vs -15), while assessments of current industrial production eased (16 vs 28). Selling price expectations moderated slightly (10 vs 13).