Extremely hot summer in Slovakia has influenced the way people spend their money, with interest in some goods and services going down significantly, according to Sberbank strategy expert Martin Barto. People tend to avoid longer and more complicated transactions in hot temperatures and they buy fewer durable goods.
On the other hand, with temperatures rising some sectors enjoy hikes in consumer demand. These include energy production and the fuel industry, as higher amounts of energy are used for air-conditioning and fans, sales of non-alcoholic beverages and sun-tan lotions. Demand is also up for services such as open-air swimming pools. However, the analyst says the overall impact is negligible.
Lucia Pazičová
