GKI-Erste: Economic confidence improves slightly

Analysis

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Both business and consumer expectations improved this month, the GKI-Erste's economic confidence index shows. The combined index edged up from minus 4.1 points in August to minus 2.3 points in September.

The business index rose from 2.2 points to 3.6 points while the consumer index went up from minus 21.9 points to minus 19.1 points.

Expectations improved in the whole business sphere except for the construction industry. Confidence of industrial companies increased, as the assessment of incoming orders and production prospects improved.

Construction companies were more positive when comparing their level of production with that of the previous period. Trade companies said their sales position had deteriorated but were more positive about incoming order prospects.

Households assessed their financial capacity and their savings for the next twelve months better than in the previous month. "More consumers said they would be able to put money aside and make big purchases within the next twelve months ", GKI reports. Unemployment fears lessened but inflationary expectations strengthened.

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