Ecostat TOP 100 confidence index drops slightly in May

Analysis

Ecostat's TOP 100 index, a measure of confidence at Hungary's 100 biggest companies, fell 1 percentage point to 53% in May compared to April, but was still 3 points over its rate in May 2005.

Managers at Hungary's biggest companies said the economy's prospects were hurt by the country's poor balance and uncertainty about government reforms. A little more than a third said they expected Hungary's economic situation to improve in the coming six months, and a little less than a third said they expected things to get worse.
About 40% of managers were positive about the present situation of their businesses, and half projected an improvement in the coming six months. Just a tenth said their situations would worsen.
Almost half of the managers said export orders were growing, and more than half said they expected exports to grow in the coming six months. Asked to assess their domestic sales, 35% of managers said the market had narrowed, the highest ratio in twelve months, while just 23% said sales in Hungary had improved.

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