ZAGREB, August 28, 2020 – Economic expectations in Croatia improved significantly in August, primarily due to the hospitality sector and in line with trends in the European Union and the euro zone, a report released by the European Commission on Friday notes.
The Economic Sentiment Indicator (ESI) for Croatia increased by 7.7 points in August compared to July, reaching 90.9 points, after slipping by 1.6 points in July, the commission’s regular business and consumer survey for August shows.
That is a significant improvement compared to the record low 72.3 points in April when lockdown measures were in full swing due to the coronavirus epidemic.
The best improvement in confidence in August by far was in the services sector which is evident in the jump of 19.3 points in the services confidence index.
Industry confidence and retail confidence too increased by 5.3 and 4.3 points respectively.
A mild improvement was recorded in the consumer confidence index, which increased by 2.2 points.
Construction confidence was an exception, with confidence falling by 3.7 points.
Managers expect that they will continue to employ new workers, with the Employment Expectations Indicator recording an increase of 2.1 points compared to July, when it also increased by as many points, the commission’s report says.
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