Business confidence down, consumer confidence up in February

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Economic research institute GKIʼs Economic Sentiment Index, its combined gauge of consumer and business confidence, fell by 0.4 of a point to 6.7 in February, down for the second month in a row, state news agency MTI reported.

The standalone business confidence index fell 1.0 point to 12.9.

Industrial companiesʼ assessment of production in the recent period and order stock - including export orders - worsened. But the outlook for production and inventories was slightly more positive.

The gauge of sentiment in the construction sector nearly peaked after declining in January. The outlook for civil engineering companies worsened slightly, albeit within the margin of error, but the outlook for building companies improved noticeably.

Sentiment in the commerce sector deteriorated as assessments of sales positions worsened. Assessments were unchanged for inventories and improved for orders.

The service sector confidence index dropped to the level of about half a year earlier. Assessments of sales were worse, but the outlook improved.

The standalone consumer confidence index meanwhile improved 1.0 point to -11.1. Households were more optimistic about their own financial position and their prospects of making big-ticket purchases, as well as their chances of making savings in future.

GKI compiles the index with the support of European Union funding.

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