The business confidence index rose to -12.8 points from -14.8 points.
Sub-indices increased to a greater or lesser extent compared to July, with the construction industry still the least optimistic, while business services rated the outlook as the most favorable.
The deterioration of the employment indicator stopped, with 7% of enterprises preparing to expand their workforce in the next three months, while 12% plan to reduce their workforce. Industrial and service companies were the most confident in this area.
Predictability of the business environment has reached a 5-month high in August. Lack of predictability impacted industrial companies the most.
The price sub-index indicator has not changed significantly, with 17% of companies planning to raise prices in the next three months, while 7% are preparing to reduce them.
The consumer confidence index improved to -28.8 points in August from -31.6 points in the previous month.
Consumer’s financial outlook for the next twelve months slightly improved.
The one-year outlook for Hungary was also more favorable and the perception of having enough money to spend on high-value consumer goods improved. Inflation expectations rose slightly, and fear of unemployment decreased.
GKI’s gauge of business and consumer confidence is supported by European Union funding.
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