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Consumer confidence up, business confidence down in September

Economic research institute GKIʼs economic sentiment index, its combined gauge of consumer and business confidence, declined 1.2 points to 5.5 in September, falling for the second month in a row to a level last seen about a year ago, Hungarian news agency MTI reported Monday.

The standalone business confidence index slipped 2.9 points to 10.4. Sentiment in the industrial sector fell on a worsening outlook as well as poorer assessment of production, inventories and order stock, including export orders.

Construction sector confidence declined to a five-month low as both building and civil engineering firms reported worsening prospects.

Retailers and wholesalers were more optimistic about their sales position and order stock, but were pessimistic about inventories. Sentiment in the service sector was little changed.

GKIʼs separate consumer confidence index rose 3.9 points to -8.3, meanwhile. Householdsʼ evaluation of their own financial position was little changed, but optimism about their ability to make savings improved and more said they planned to make big-ticket purchases.

GKI compiles the index with the support of European Union funding.