Business confidence down, consumer confidence up in March

Logistics

Economic research institute GKIʼs Economic Sentiment Index, a combined gauge of consumer and business confidence, edged down 0.5 of a point to 6.2 in March, falling for the third month in a row, state news agency MTI reported.

The business confidence index, one of the two components of the Economic Sentiment Index, fell 0.8 of a point to 12.1.

Industrial companiesʼ outlook for production weakened, while assessments of inventories and orders - although not of export orders - deteriorated.

In the construction sector, the prospects of both building and civil engineering companies deteriorated slightly. Companiesʼ satisfaction with output and their assessments of orders also slipped.

Sentiment in the commerce sector improved as assessments of sales positions and inventories were more positive, while views on orders were slightly more pessimistic.

Service sector confidence rose in March. Assessments of current sales and outlook improved, but views on turnover in the previous period slightly worsened.

The consumer confidence index, the other main component of the Economic Sentiment Index, improved 0.4 of a point to -10.7. Households were more optimistic about their own financial positions, but more pessimistic about their ability to make savings and their prospects of making big-ticket purchases.

GKI compiles the index with the support of European Union funding, MTI noted.

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