In January 2023, business confidence indicators were positive in the retail trade and services sector, while in manufacturing and construction business confidence indicators were still negative, although they have slightly improved.
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, the business environment is positive, if it is below zero, the business environment is negative.
In January 2023 the confidence indicator in retail trade, according to seasonally adjusted data, comprised 7.2. During the last half year this indicator increased each month and in January, compared to December, improved by 0.3 percentage points.
In the services sector, the seasonally adjusted confidence indicator in January 2023 was 4.3 and business environment of entrepreneurs, compared to December, has improved by 1.5 percentage points. As usual, indicators of environment differ significantly in various services sectors, and also trend of their changes differ depending on the specificities of the sector and seasonal impact.
According to seasonally adjusted data, in January the confidence indicator in construction comprised -11.4, which is an increase of 2.7 percentage points as compared to the previous month.
Meanwhile in January the confidence indicator in manufacturing comprised - 7.4. As compared to December, it has increased by 0.9 percentage points.
In January 2023 the overall economic sentiment indicator comprised 93.6, (92.7 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.