Sentiment indicator, Slovenia, November 2019

Decline of the economic sentiment continues

In November 2019 the economic sentiment declined for the fourth consecutive month and almost fell to the long-term average.

  • 11/25/2019
  • |
  • final data
  • Branka Savičić Krstevski, Barbara Čertanec, Luka Zupanc
  • |
  • Data inquiry

Decline at the monthly level continues

The value of the sentiment indicator in November 2019 (at 2.4 percentage points – p.p.) decreased by 1.7 p.p. compared to October (at 4.1 p.p.). Since January the value has dropped by 9.7 p.p. and remained only slightly above the long-term average (by 2.7 p.p.). Economic sentiment has not been this negative since the end of 2014.

The monthly decrease was influenced by confidence indicators in manufacturing (by 0.7 p.p.), in retail trade (by 0.7 p.p.) and among consumers (by 0.5 p.p.). The services confidence indicator had a marginally positive influence (by 0.1 p.p.), while the construction confidence indicator had no influence on the monthly change of the sentiment indicator.

Significant deterioration at the annual level

In November 2019 the sentiment indicator decreased by 7.6 p.p. over November 2018.

The annual decline was influenced mostly by the manufacturing confidence indicator (by 3.9 p.p.). All other confidence indicators also had a negative influence; among consumers by 1.7 p.p., in services by 0.9 p.p., in construction by 0.8 p.p. and in retail trade by 0.3 p.p.

Sentiment indicator, Slovenia, January 2005–November 2019
Sentiment indicator, Slovenia, January 2005–November 2019
Source: SURS
Impact of individual confidence indicators on the monthly change of the sentiment indicator, Slovenia, November 2019
Impact of individual confidence indicators on the monthly change of the sentiment indicator, Slovenia, November 2019
Source: SURS
METHODOLOGICAL NOTE
Some totals and subtractions do not add up due to rounding.

The sentiment indicator is the weighted average of the confidence indicators in manufacturing, retail trade, construction, services and the consumer confidence indicator.

Data are seasonally adjusted.

In January 2016, methodological changes were implemented in the Consumer Survey and these can have an impact on the value of the sentiment indicator.
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