ZAGREB, Sept 29, 2020 – Economic expectations in Croatia deteriorated mildly in September, under a wave of pessimism in the services sector, but managers expect to employ new workers, a European Commission report released on Tuesday notes.
The Economic Sentiment Indicator (ESI) for Croatia decreased by 2.3 points in September compared to August, slipping to 88.6, the Commission’s regular report shows.
In August it jumped by 7.7 points, signalling a strong wave of optimism after stringent lockdown measures against the coronavirus were lifted. Those measures led to the ESI sinking to a record low of 72.3 points in April.
By far the biggest deterioration in expectations among managers in September occurred in the services sector, which is obvious in the drop in the relevant index by 4.8 points after jumping by 19.3 points in August.
The consumer confidence index deteriorated too, by 3.8 points.
Construction confidence and retail confidence, however, improved slightly, increasing by 3 points and 2.4 points respectively.
Industry confidence remained at the same level as in August, when it had plunged compared to July.
Managers expect that they will continue to employ new workers, with the Employment Expectations Indicator recording an increase of 3.8 points compared to August, when it also increased, by 2.1 points, the Commission’s report says.
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