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Business confidence improves, consumer confidence slips in July

Logistics

Economic research institute GKIʼs combined gauge of consumer and business confidence rose to 4.2 points in July, a historic high, from 3.2 points in the previous month, Hungarian news agency MTI reported. The business confidence index rose to 11.3 points from 9.5 points.

The outlook for the industrial and construction sectors improved, but the outlook worsened slightly for trade and service companies.

Industrial companiesʼ assessment of recent output, orders and inventories was better, but their outlook for production worsened.

Construction companiesʼ assessment of recent output worsened, but their outlook improved.

Companies in commerce were more positive with regard to their sales position, but were less optimistic about prospective orders and inventories. 

In the service sector, there was a slight deterioration in overall sentiment as the companiesʼ assessment of prospective turnover deteriorated, but confidence was still high.

The consumer confidence index slipped to -15.9 points from -14.6 points. Fear of unemployment slightly increased, as did inflation expectations. Householdsʼ assessment of their own prospective financial positions worsened, but their ability to make savings was little changed.

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

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