Better mood in services sector in August

Data of business tendency surveys published August 31 by the Central Statistical Bureau (CSB) show that business confidence indicators in August 2021 have gone down in retail trade, construction, and industry, however, in the services sector business environment is slightly improving each month.

Business confidence indicators characterize the general situation in the sector and they are acquired by carrying out business surveys in the industry, construction, retail trade, and services sectors. If the indicator is above zero, business environment is positive, if it is below zero – business environment is negative.

The full report is available on the official statistics website.

According to seasonally adjusted data, in August confidence indicator in retail trade comprised 6.2. As compared to July, this indicator has dropped by 3.2 percentage points. Already for the fourth consequent month confidence indicator is positive both in food and non-food retail trade, as well as in retail trade of fuel.

In services sector confidence in August 2021, according to seasonally adjusted data, was 6.9. As compared to July, this indicator has grown by 0.9 percentage points, but the value is positive already since May. In general business environment in services sector is stable, as it is improving each month. 

In August this year, according to seasonally adjusted data, confidence indicator in construction comprised -9.9 (compared to the previous month, reduction of 1.6 percentage points), and it was affected by a less optimistic assessment of entrepreneurs on the development of employment in the following three months.

In August confidence indicator in manufacturing comprised 0.1 (2.4 percentage points less than in July), and it was affected by a more negative assessment of entrepreneurs regarding level of current orders. 

In August 2021 economic sentiment indicator comprised 101.9, (102.9 in the previous month). Economic sentiment indicator characterizes general socio-economic situation in the country during a certain period of time (month), and it is calculated by the European Commission, Directorate-General for Economic and Financial Affairs for all EU countries according to a common methodology, taking 15 various seasonally adjusted components included in industry, construction, retail trade and services sector, as well as in consumer confidence indicator, as a basis.

 

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