Business confidence weakens in October
Economic research institute GKIʼs combined gauge of consumer and business confidence fell to 4.2 points in October, from 5.4 points in the previous month. The standalone business confidence index fell from 12.3 points to 10.5 points.
Industrial companiesʼ outlook for production, inventories and orders slightly deteriorated, but they had more positive views on production in the previous period as well as export volume.
The measure of construction companiesʼ confidence reached a new high. Building construction companiesʼ expectations improved further from the previous month, while civil engineering companies were slightly less optimistic.
Confidence in the trade sector was unchanged as views on sales positions and orders deteriorated but assessments of inventories improved.
The service sector confidence index worsened in October.
The standalone consumer confidence index edged up slightly from -14.3 points to -13.8 points. Consumersʼ expectations of their prospective financial position was unchanged, but they said their ability to make savings slightly worsened.
GKI compiles the index with the support of European Union funding.
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