Business confidence down, consumer confidence up in Dec - GKI

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Economic research institute GKIʼs combined gauge of consumer and business confidence fell to -1.1 points in December from 2.8 points in the previous month on a sharp deterioration in business sentiment, state news wire MTI reports.

GKIʼs measure of confidence in the business sector dropped to 1.5 points in December from 7 points in November.

Confidence in the industrial sector fell to a six-year low on worsening assessments of output, order stock and inventories, and a dimmer outlook for production.

Sentiment in the construction sector deteriorated among both building construction and civil engineering companies as their assessments of output and inventories worsened.

Confidence in the commerce sector was little changed. Assessments of sales positions and the outlook for orders deteriorated, but views on inventory levels improved.

The outlook in the services sector was little changed in December.

GKIʼs consumer confidence index rose to -8.4 points in December from -9.8 points in the previous month. Households were more optimistic about their financial positions and their ability to make savings, but their propensity to make big-ticket purchases declined.

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