Consumer, business confidence drops in October
GKIʼs combined consumer and business confidence index fell to minus 4.5 points in October from minus 3.6 points in September, according to Hungarian news agency MTI. The business confidence index inched down from 1.7 points to 1.0 points.
The confidence index for the industrial sector fell for the third month in a row. Industrial companies gave a worse assessment of output in recent months as well as of their stock of orders, though not export orders. They were pessimistic about inventories, but more optimistic about their outlook.
The gauge of confidence in the construction industry showed a negative correction as companies were more pessimistic about their orders.
In the commercial sector, the confidence marker rose slightly as companiesʼ assessment of their sales position and inventories improved, although confidence in orders was slightly worse.
The service sector confidence index fell slightly in October.
GKIʼs consumer confidence index fell to minus 20.3 points in October from minus 18.5 points in September. Fewer households expected an improvement in their financial position or thought they could set aside savings in the coming period. Slightly fewer consumers planned to make big-ticket purchases in future.
GKIʼs measure of consumer and business confidence is supported by European Union funding.
Hungary Gasoline Prices 3% Over Regional Avg
Hungary to Address Future of Cohesion Policy During EU Presi...
Cordia’s Marina City Project Begins
Budapest Airport Wins 'Best Airport in Eastern Europe' for 1...
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
