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Business confidence down, consumer confidence up

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Economic research institute GKIʼs combined gauge of consumer and business confidence slipped to 4 points in August, from 4.2 points in the previous month, national news agency MTI reported today. The standalone business confidence index edged down from 11.3 points  to 10.2 points.

The outlook deteriorated for the industrial sector but improved for the construction and particularly the commerce sector, while service companiesʼ expectations remained unchanged.

Industrial companiesʼ assessment of recent output, orders (including export orders), and inventories worsened, but their outlook for production improved. Construction companiesʼ expectations continued to improve for both general building construction and civil engineering companies.

The assessments of selling positions and inventories for companies in commerce were more optimistic. In the service sector, companiesʼ assessment of prospective turnover worsened slightly, but confidence remained unchanged from the previous month.

The separate consumer confidence index inched higher from -15.9 points to -13.6 points. Concerns over unemployment lessened but inflation expectations were higher. Householdsʼ expectations of their own prospective financial positions and their ability to make savings improved.

GKI compiles the monthly indices with the support of European Union funding.

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