Thursday, 28 May 2026
Economic sentiment in Slovakia improved for the second consecutive month in May, although overall confidence levels remained below the long-term average, according to the latest survey data published by the Statistical Office of the Slovak Republic.
The Economic Sentiment Indicator (ESI) increased by 0.4 points month-on-month to 100.1, marking the first time this year that positive expectations slightly outweighed negative assessments. Compared with May 2025, the indicator was 3.4 points higher, though still 5.6 points below its long-term average.
The improvement was driven mainly by stronger confidence among companies in the services sector, retail trade and construction. However, sentiment among industrial companies and consumers weakened during the month.
In industry, the seasonally adjusted confidence indicator fell by 1.6 points to 0.7. The decline reflected weaker order books and lower expectations for industrial production over the next three months. Reduced demand was particularly visible in the manufacture of coke and refined petroleum products, while producers of basic pharmaceutical products reported weaker production expectations.
The services sector recorded the strongest improvement in sentiment. The confidence indicator rose by 3.7 points to 7, supported by better assessments of current business conditions and stronger demand expectations. Financial and insurance activities contributed significantly to the improved business outlook, while companies in real estate activities anticipated higher demand.
Consumer sentiment remained subdued. The seasonally adjusted consumer confidence indicator declined by 0.9 points to -28.3, reaching one of its weakest levels since March 2023. The indicator remains well below its long-term average, reflecting continued concerns among households about their future financial situation and savings capacity. Consumers were, however, slightly more optimistic regarding broader economic developments and unemployment expectations.
Retail trade sentiment improved moderately in May, with the confidence indicator increasing by 1.7 points to 2. Retailers reported better business activity over the past three months and lower stock levels. Improvements were particularly visible among online and non-store retailers, while specialised retailers of cultural and recreational goods recorded declining inventories.
Confidence in construction also strengthened, rising by 1.5 points month-on-month to -1.5. Construction firms reported improved order books, especially among companies involved in building construction, while employment expectations remained unchanged.
The latest survey suggests that while parts of the Slovak economy are showing signs of stabilisation, weak consumer confidence and softer industrial activity continue to weigh on the broader economic outlook.
Source: SOSR
