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Business confidence stronger, consumer confidence weaker

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Economic research institute GKIʼs combined gauge of business and consumer confidence rose to 5.4 points in September, up from 4.0 points the previous month. Industrial and construction companiesʼ confidence rose most, but consumersʼ confidence dropped.

The standalone business confidence index rose from 10.2 points to 12.3 points. The measure of industrial companiesʼ confidence reached a new high. Companies were more positive about production in the past three months as well as for the coming period. Their assessment of the order stock was also better, though not for export orders, state news agency MTI reported.

The gauge of construction companiesʼ sentiment also saw a high. Civil engineering companiesʼ expectations improved considerably from the previous month, while building construction companies were less optimistic. Assessments of output in the previous period and orders deteriorated.

Confidence in the commercial sector was down slightly as views on selling positions improved, but assessments of orders and inventories worsened. The service sector confidence index was unchanged.

The standalone consumer confidence index fell from -13.6 points to -14.3 points, as consumers said their ability to make savings had worsened.

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