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Business tendency and consumer surveys, Slovenia, December 2011 - final data

Wednesday, December 28, 2011, First Release
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In December 2011 the sentiment indicator (-10 percentage points) was the same as in November 2011.

Sentiment indicator the same as in the previous month
In December 2011 the sentiment indicator (-10 percentage points) was the same as in November 2011. Compared to December 2010 the sentiment indicator went down by 2 percentage points and was 10 percentage points below the long-term average.

Manufacturing confidence indicator higher than in the previous month
In December 2011 the manufacturing confidence indicator (-5 percentage points) went up by 2 percentage points compared to November 2011 when it stood at -7 percentage points. Compared to December 2010 the manufacturing confidence indicator decreased by 4 percentage points and was 2 percentage points below the long-term average.
The situation indicators mostly decreased in comparison with the previous month, except the export order books indicator and overall order books indicator.
Among the situation indicators, the production indicator decreased the most (by 4 percentage points) compared to the previous month. Compared to the previous month the expected production indicator and the expected price indicator increased, the expected employment indicator and the expected total demand indicator decreased, while the expected export order books indicator remain the same.

Retail trade confidence indicator a bit lower than in the previous month
In December 2011 the retail trade confidence indicator (14 percentage points) went down by 2 percentage points compared to November 2011 when it stood at 16 percentage points. The indicator was the same as in December 2010 and 5 percentage points above the long-term average.
The situation indicators mostly decreased compared to the previous month, except the sales indicator. The expectation indicators increased compared to the previous month, except the expected employment indicator and the sales indicator.
Among the situations indicators, the volume of stocks indicator decreased the most (by 7 percentage points) compared to the previous month. Among the expectation indicators, the expected business situation indicator increased the most (by 21 percentage points) compared to the previous month.
The most important factor limiting the enterprises in retail trade was competition in own sector (46%), followed by low demand (44%) and high costs of labour (41%). 11% of enterprises experienced no limits in their activity.

Construction confidence indicator higher than in the previous month
In December 2011 the construction confidence indicator (-41 percentage points) was 5 percentage points higher than in November 2011 (-46 percentage points). Compared to December 2010 the construction confidence indicator increased by 15 percentage points and was 29 percentage points below the long-term average.
The situation indicators mostly increased compared to the previous month, except the technical capacity indicator. The expectation indicators mostly increased compared to the previous month, except the price expectations indicator.
The confidence indicator reached the highest value since February 2009. Among the situation indicators, the overall order books indicator increased the most (by 6 percentage points) compared to the previous month. Among the expectation indicators, the expected overall order books indicator increased the most (by 11 percentage points) compared to the previous month.
The most important factors limiting the enterprises in construction were insufficient demand (51%) and competition in own sector (48%). Other important factors were high costs of labour (39%), high financial costs (34%), access to bank credits (32%) and high costs of material (32%).

Services confidence indicator lower than in the previous month
In December 2011 the services confidence indicator (-9 percentage points) was 6 percentage points lower than in November 2011 when it stood at -3 percentage points. Compared to December 2010 the services confidence indicator decreased by 8 percentage points and was 28 percentage points below the long-term average.
The situation indicators mostly decreased compared to the previous month. The expectations indicators mostly decreased compared to the previous month, except the expected demand indicator.
The most important factor limiting the enterprises in services was insufficient demand (47%), followed by financial constraints (33%), other limitations (15%) and shortage of labour force (2%). On the other hand, 22% of enterprises experienced no limits in their activity.

Consumer confidence indicator higher than in the previous month
http://www.stat.si/eng/novica_prikazi.aspx?id=4422
Chart 1: Sentiment indicator1), Slovenia, January 2000 - December 2011
Chart 1: Sentiment indicator<sup>1)</sup>, Slovenia, January 2000 - December 2011
1) The sentiment indicator is the weighted average of the confidence indicators in manufacturing, retail trade, construction, services and the consumer confidence indicator.
Source: SORS
Methodological note
Data are seasonally adjusted. In the data no calendar effects were detected.
In Business Tendency Survey in Manufacturing (PA-IND), in the time series level of capacity utilisation and new orders the seasonal component is not present.
In Business Tendency Survey in Retail Trade (PA-TRG), in the time series present volume of stock, expected employment, selling prices, selling prices expectations and sales have no seasonal component.
In Business Tendency Survey in Services (PA-STOR), in the time series selling prices expectations the seasonal component is not present.
The business survey was co-financed by the European Commission. However, the European Commission accepts no responsibility whatsoever with regard to the material published in this publication.
Data access
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Next release:
Monday, June 24, 2013
Linked content
Links to the detailed methodological explanations, detailed data in Si-Stat database and liks to other related topic can be found on the web sitehttp://www.stat.si/novica_poglej.asp?id=124.

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