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MKIK business confidence index at 4-year low

The business confidence index of the Hungarian Chamber of Commerce and Industryʼs (MKIK) economic research institute GVI fell to 46 points in October from 58 points in April, MKIK told Hungarian news agency MTI.

The index in October was at its lowest since October 2015 and the drop came after a continuous improvement in business sentiment since October 2017.

The sub-index measuring business uncertainty was up by 8 points at 44 points.

Wholly or partially foreign-owned companies, export-focused ones and those employing more than 50 workers were the most concerned about the deterioration of the business environment.

The sub-indices were down in manufacturing, construction, commerce, and other services sectors.

The gauge for current business prospects was down by 7 points at 48 points and the future prospects index dropped 14 points to 35 points. The sub-indices for machine and construction investments were also down.

The business confidence index was calculated based on the answers of 2,268 company managers.