The monthly increase was impacted by confidence indicators in service industries (by 1.7 p.p.), manufacturing (by 0.7 p.p.) and construction (by 0.1 p.p.).

The retail confidence indicator had zero effect on the business sentiment this month, while the impact of the consumer confidence indicator was negative (by 0.2 p.p.).

Meanwhile, the decrease at the annual level is mostly a result of a lower confidence indicator in services (by 5.9 p.p.).

The consumer confidence indicator was also negative (by 2.9 p.p.), as were the confidence indicators in construction (by 0.5 p.p.) and in retail (by 0.3 p.p.).

The manufacturing confidence indicator was thus the only indicator to have a positive impact on the September figure compared to the same month in 2019 (by 1 p.p.).

Confidence indicators in manufacturing, construction and services rose in September, whereas the retail confidence indicator was on par with the August figure and the long-term average.

The manufacturing confidence indicator also improved year-on-year (by 2 p.p.) and compared to the long-term average (by 1 p.p.).

On the other hand, the retail confidence indicator dropped by 6 p.p. year-on-year, the services indicator by 19 p.p. and the indicator in construction by 11 p.p. on September 2019.

The services figure was also down 12 p.p. on the long-term average, whereas the construction figure was up 11 p.p. compared to the long-term average.