Business tendency, October 2024
Only confidence in construction slightly improved
This month the confidence indicator was slightly higher only in construction. The main limiting factors were uncertain economic conditions in manufacturing, competition in retail trade, lack of skilled labour in construction and labour shortages in services.
Slightly higher confidence in construction
The confidence indicator was 1 p.p. higher than in the previous month, 3 p.p. lower than in October 2023, but 14 p.p. above the long-term average.
The employment expectation indicator improved by 3 p.p., while the overall order books indicator deteriorated by 1 p.p.
The labour hoarding indicator was lower at the monthly level by 2 p.p., higher at the annual level by 2 p.p. and in relation to the long-term average lower by 7 p.p.
The largest share, 48%, of the enterprises reported shortage of skilled labour as the main limiting factor in their activities (5 p.p. fewer than in October 2023). This was followed by high cost of labour (34%, 6 p.p. fewer) and high cost of material (30%, 15 p.p. fewer).
Lower in manufacturing …
The confidence indicator was 1 percentage point (p.p.) lower at the monthly level and 2 p.p. higher at the annual level. Compared to the long-term average, it was 8 p.p. lower.
The overall order books indicator and the expected production indicator worsened (the former by 3 p.p. and the latter by 2 p.p.), while the stocks of finished products indicator improved by 1 p.p.
The labour hoarding indicator was lower at the monthly level by 1 p.p. and at the annual level by 3 p.p., while compared to the long-term average it was 1 p.p. higher.
The following factors most often limited activity: uncertain economic conditions (38% of enterprises, 3 p.p. fewer than in October 2023), insufficient foreign demand (33%, 2 p.p. fewer) and insufficient domestic demand (32%, 2 p.p. fewer).
The current capacity indicator was 80.9%, 1.1 p.p. lower than in July this year. The assessment of current production capacities indicator decreased by 2 p.p., while the new orders indicator remained unchanged. Assessment of the competitive position deteriorated on the domestic market (by 8 p.p.), on EU markets (by 4 p.p.) and on non-EU markets (by 2 p.p.).
… in services
The confidence indicator decreased by 2 p.p. at the monthly level, but increased by 1 p.p. at the annual level and was 7 p.p. higher than the long-term average.
The monthly change was negatively affected by all three indicators: business situation declined by 4 p.p., demand by 2 p.p. and expected demand by 1 p.p.
The labour hoarding indicator decreased in all three comparisons: at the monthly level by 2 p.p., at the annual level by 1 p.p., and compared to the long-term average by 2 p.p.
Most often activities were limited by labour shortages (33%, 3 p.p. fewer than in October 2023) and insufficient demand (30%, 3 p.p. more). 28% of enterprises operated without restrictions (5 p.p. fewer).
… and in retail trade
The confidence indicator was 8 p.p. lower at the monthly level, 12 p.p. lower at the annual level and 8 p.p. below the long-term average.
The monthly change was negatively affected by the sales indicator, which decreased by 23 p.p., while the volume of stocks indicator and the expected sales indicator remained unchanged.
The labour hoarding indicator decreased in all three comparisons: at the monthly level by 7 p.p., at the annual level by 8 p.p., and compared to the long-term average by 5 p.p.
Competition in the sector is still the most common factor limiting retail trade. It was stated by 44% of enterprises (the same as last October). This is followed by high labour costs (39%, 3 p.p. more) and insufficient demand (23%, the same).
Tables with the latest data are available in the SiStat Database.
The confidence indicator was 1 p.p. higher than in the previous month, 3 p.p. lower than in October 2023, but 14 p.p. above the long-term average.
The employment expectation indicator improved by 3 p.p., while the overall order books indicator deteriorated by 1 p.p.
The labour hoarding indicator was lower at the monthly level by 2 p.p., higher at the annual level by 2 p.p. and in relation to the long-term average lower by 7 p.p.
The largest share, 48%, of the enterprises reported shortage of skilled labour as the main limiting factor in their activities (5 p.p. fewer than in October 2023). This was followed by high cost of labour (34%, 6 p.p. fewer) and high cost of material (30%, 15 p.p. fewer).
Lower in manufacturing …
The confidence indicator was 1 percentage point (p.p.) lower at the monthly level and 2 p.p. higher at the annual level. Compared to the long-term average, it was 8 p.p. lower.
The overall order books indicator and the expected production indicator worsened (the former by 3 p.p. and the latter by 2 p.p.), while the stocks of finished products indicator improved by 1 p.p.
The labour hoarding indicator was lower at the monthly level by 1 p.p. and at the annual level by 3 p.p., while compared to the long-term average it was 1 p.p. higher.
The following factors most often limited activity: uncertain economic conditions (38% of enterprises, 3 p.p. fewer than in October 2023), insufficient foreign demand (33%, 2 p.p. fewer) and insufficient domestic demand (32%, 2 p.p. fewer).
The current capacity indicator was 80.9%, 1.1 p.p. lower than in July this year. The assessment of current production capacities indicator decreased by 2 p.p., while the new orders indicator remained unchanged. Assessment of the competitive position deteriorated on the domestic market (by 8 p.p.), on EU markets (by 4 p.p.) and on non-EU markets (by 2 p.p.).
… in services
The confidence indicator decreased by 2 p.p. at the monthly level, but increased by 1 p.p. at the annual level and was 7 p.p. higher than the long-term average.
The monthly change was negatively affected by all three indicators: business situation declined by 4 p.p., demand by 2 p.p. and expected demand by 1 p.p.
The labour hoarding indicator decreased in all three comparisons: at the monthly level by 2 p.p., at the annual level by 1 p.p., and compared to the long-term average by 2 p.p.
Most often activities were limited by labour shortages (33%, 3 p.p. fewer than in October 2023) and insufficient demand (30%, 3 p.p. more). 28% of enterprises operated without restrictions (5 p.p. fewer).
… and in retail trade
The confidence indicator was 8 p.p. lower at the monthly level, 12 p.p. lower at the annual level and 8 p.p. below the long-term average.
The monthly change was negatively affected by the sales indicator, which decreased by 23 p.p., while the volume of stocks indicator and the expected sales indicator remained unchanged.
The labour hoarding indicator decreased in all three comparisons: at the monthly level by 7 p.p., at the annual level by 8 p.p., and compared to the long-term average by 5 p.p.
Competition in the sector is still the most common factor limiting retail trade. It was stated by 44% of enterprises (the same as last October). This is followed by high labour costs (39%, 3 p.p. more) and insufficient demand (23%, the same).
Tables with the latest data are available in the SiStat Database.
Monthly changes in the value of confidence indicators, Slovenia, October 2024
METHODOLOGICAL NOTE
Data are seasonally adjusted.
Additional explanations are available in the methodological explanations.
The business surveys are co-financed by the European Commission. However, the European Commission accepts no responsibility or liability whatsoever with regard to the material published in this document.
Additional explanations are available in the methodological explanations.
The business surveys are co-financed by the European Commission. However, the European Commission accepts no responsibility or liability whatsoever with regard to the material published in this document.
When making use of the data and information of the Statistical Office of the Republic of Slovenia, always add: "Source: SURS". More: Copyright.
.jpg)
.jpg)
.jpg)
