In April, the value of the sentiment indicator declined slightly compared to March but remained marginally higher than in April 2024. Month-on-month, confidence weakened among consumers and in retail trade and these were also the only two indicators to record a year-on-year decline. Year-on-year, confidence indicator in construction was higher, with slight improvements also observed in manufacturing and services. The economic sentiment indicator thus remains below its long-term average, while only the indicators for services and construction still exceeding their respective long-term averages.

Year-on-year nominal growth of the average gross wage stood at 6.6% in February, a rate similar to that recorded in January but higher than at the end of 2024, primarily due to stronger wage growth in the public sector following the implementation of the new wage system. In the public sector, wages rose by 10.6% year-on-year in February, supported by the disbursement of the first instalment of the agreed wage increase. In the private sector, year-on-year growth continued to moderate slightly (4.4%), which, in our assessment, may be attributed to a decline in excess demand – indicated by a declining job vacancy rate – and a smaller increase in the minimum wage at the beginning of this year compared to last year.
In real terms, the average gross wage increased by 5% in February – by 2.8% in the private sector and by 8.9% in the public sector.