Sentiment indicator higher than in the previous month
In January 2013 the sentiment indicator (-16 percentage points) was 1 percentage point higher than in December 2012 (-17 percentage points). Compared to January 2012 it went down by 4 percentage points and was 14 percentage points below the long-term average.

Manufacturing confidence indicator lower than in the previous month
In January 2013 the manufacturing confidence indicator (-12 percentage points) was 2 percentage points lower than in December 2012 when it stood at -10 percentage points. Compared to January 2012 it decreased by 9 percentage points and was 9 percentage points below the long-term average.
Among the situation indicators, the stocks of finished products indicator and the production indicator increased, the overall order books indicator and the export order books indicator decreased, while the assured production indicator remained the same compared to the previous month. The expectation indicators mostly increased compared to the previous month, except the expected price indicator, which remained the same.
Among the situation indicators, the stocks of finished products indicator increased the most (by 5 percentage points) compared to the previous month. Among the expectation indicators, the expected export order books indicator increased the most (by 8 percentage points) compared to the previous month.

The indicators that are observed four times a year mostly increased:
The currentcapacity utilisation was 77.6%; 0.4 of a percentage point higher than in October 2012, 1.4 percentage points lower than in January 2012 and 3.1 percentage points lower than the long-term average. In 68% of enterprises the capacity utilisation was higher than 71%.
In January 2013 the indicator of assessment of currentproduction capacitiesaccording to expected demand in the next 12 months (26 percentage points) went down by 4 percentage points compared to October 2012, when it stood at 30 percentage points. Compared to January 2012 it increased by 9 percentage points and was 7 percentage points above the long-term average.
The indicators of competitive position mostly increased compared to October 2012. The indicator of competitive position on the markets inside the EU went up by 10 percentage points, the indicator of competitive position on the domestic market went up by 5 percentage points and the indicator of competitive position on the markets outside the EU remained the same.
In January 2013 the new orders indicator (-13 percentage points) went up by 5 percentage points compared to October 2012 (-18 percentage points). Compared to January 2012 it decreased by 9 percentage points and was 19 percentage points below the long-term average.
The most important factor limiting production in January 2013 was insufficient domestic demand; 54% of enterprises were faced with this limitation. It was followed by insufficient foreign demand (42%), uncertain economic conditions (35%), financial problems (31%) and unpaid bills (23%).

Retail trade confidence indicatorhigher than in the previous month
In January 2013 the retail trade confidence indicator (0 percentage points) was 2 percentage points higher than in December 2012 when it stood at -2 percentage points. Compared to January 2012 it increased by 1 percentage point and was 9 percentage points below the long-term average.
The situation indicators decreased compared to the previous month, except the selling prices indicator and the volume of stocks indicator. The expectation indicators decreased compared to the previous month, except the expected business situation indicator and the expected sales indicator.
Among the situation indicators, the sales indicator decreased the most (by 11 percentage points) compared to the previous month. Among the expectation indicators, the expected orders indicator decreased the most (by 8 percentage points) compared to the previous month.
The most important factors limiting the enterprises in retail trade were low demand (57%), competition in own sector (49%) and high costs of labour (49%). 10% of enterprises experienced no limits in their activity.

Construction confidence indicator higher than in the previous month
In January 2013 the construction confidence indicator (-30 percentage points) was 5 percentage points higher than in December 2012 when it stood at -35 percentage points. Compared to January 2012 it increased by 13 percentage points and was 12 percentage points below the long-term average.
The situation indicators mostly increased compared to the previous month, except the employment indicator and the price indicator. The expectation indicators mostly increased compared to the previous month, except the expected price indicator.
Among the situation indicators, the overall order books indicator increased the most (by 8 percentage points) compared to the previous month. Among the expectation indicators, the expected overall order books indicator increased the most (by 7 percentage points).
The most important factors limiting the enterprises in construction were insufficient demand (58%) and competition in own sector (40%). Other important factors were high costs of labour (38%), high financial costs (34%), high costs of material (33%) and access to bank credits (30%).

Services confidence indicator higher than in the previous month
In January 2013 the services confidence indicator (-13 percentage points) was 2 percentage points higher than in December 2012 when it stood at -15 percentage points. Compared to January 2012 it decreased by 2 percentage points and was 28 percentage points below the long-term average.
The business situation indicator increased compared to the previous month, while the demand indicator decreased. The employment indicator remained stable. The expectation indicators increased compared to the previous month. The expected employment indicator remained stable.
The most important factor limiting the enterprises in services was insufficient demand (50%), followed by financial constraints (40%), other limitations (11%) and shortage of labour force (2%). On the other hand, 20% of enterprises experienced no limits in their activity.

Consumer confidence indicator higher than in the previous month

https://www.stat.si/eng/novica_prikaziSSL.aspx?DCw3RHl89=2486753&ID=5268

Chart 1: Sentiment indicator1), Slovenia, January 2003 - January 2013

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

Source: SURS

Methodological note

Data are seasonally adjusted. In the data no calendar effects were detected.
In Business Tendency Survey in Manufacturing (PA-IND), in the time series level of capacity utilisation and new orders the seasonal component is not present.
In Business Tendency Survey in Retail Trade (PA-TRG), in the time series present volume of stock, expected employment, selling prices, selling prices expectations and sales have no seasonal component.
In Business Tendency Survey in Services (PA-STOR), in the time series selling prices expectations the seasonal component is not present.
The business survey was co-financed by the European Commission. However, the European Commission accepts no responsibility whatsoever with regard to the material published in this publication.

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