Business confidence up, consumer confidence down in November
Economic research institute GKIʼs combined gauge of business and consumer confidence rose to 5.0 points in November, up from 4.2 points in the previous month. The standalone business confidence index rose from 10.5 points to 11.7 points as expectations improved in all sectors apart from industry, where they were unchanged.
Industrial companiesʼ assessments of output in the previous period and their outlook for production deteriorated, but assessments of inventories and orders improved. Investment plans for next year were slightly stronger, the GKI research reveals, as summarized by state news agency MTI.
The measure of construction companiesʼ confidence reached a new high. Within this, building construction companiesʼ expectations slightly deteriorated from the previous month, while civil engineering companies were slightly more optimistic. The assessment of output in the previous three months improved, as did confidence with respect to orders.
The commercial sector confidence index was slightly higher as views on sales positions and orders improved, but assessments of inventories worsened.
The service sector confidence index rose in November on improved turnover expectations.
Intentions to raise prices became stronger in every sector, as did inflationary expectations of consumers. The standalone consumer confidence index edged down from -13.8 points to -14.2 points.
Consumersʼ expectations of their prospective financial position worsened, although they indicated that their ability to make savings has slightly improved.
GKI compiles the index with the support of European Union funding.
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