Confidence index shows growing optimism

Analysis

The business confidence index of the Institute for Economic and Enterprise Research (GVI) of the Hungarian Chamber of Commerce and Industry (MKIK) rose to 32 points in July, up from 21 points in April, according to state news wire MTI.

The rise comes as companies have become more optimistic regarding their current profitability, order stock and business position, MKIK GVI Nonprofit told MTI on Wednesday. The survey is based on interviews with 400 company managers, the institute said.

MKIK GVI said the business confidence index has returned to its earlier average 30 points level seen since last January after temporarily falling in April. It added that companiesʼ assessment of their outlook for the future slightly worsened, while indicators of headcount, utilization of capacities and output in the next six months also deteriorated slightly compared to a quarter earlier.

The uncertainty indicator stood slightly lower in July compared to April, MKIK GVI said.

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