The business sentiment indicator was at +1% in July, up one percentage point from the month before and up 15 points year-on-year. The value is 4 points above long-term average.

Due to upbeat expectations for the next three months, the sentiment indicator in manufacturing was up 1 point from June, up 12 points from July 2013 and 10 points above long-term average.

Indicators in all the other sectors increased on the monthly level, while only retail saw a deterioration year-on-year, and the services indicator dropped compared with long-term average.

The indicator for retail was up 10 points from June and down 2 points year-on-year, while still being 4 points above long-term average.

The construction indicator rose 1 point from June and 15 points from July 2013, being 12 points above long-term average.

The services indicator was up 1 point at the monthly and up 19 points at the annual level, but 4 points below long-run average.