Business, consumer confidence continue to rise in December

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Economic research institute GKIʼs Economic Sentiment Index, its combined gauge of consumer and business confidence, rose 1.1 points to 8.6 in December, climbing for the third month in a row, state news wire MTI reported.

The standalone business confidence index rose 1.0 percentage point to 15.4, boosted by improved sentiment in the industrial sector. However, confidence weakened in all other sectors.

Industrial companiesʼ assessment of production as well as their overall order stock improved, although optimism waned for export orders. They were also more positive about inventories and the production outlook.

In the construction sector, the outlook for civil engineering companies improved slightly, but sentiment among building firms deteriorated. Construction companiesʼ assessment of their order stock worsened noticeably.

In the commerce sector, sentiment worsened for the third month in a row on assessments of sales positions and order stocks, although companies were more positive about inventories.

Service sector companiesʼ confidence weakened on their assessment of ongoing business as well as outlook.

Meanwhile, the consumer confidence index climbed 1.5 percentage points to -10.6. Households were less pessimistic about their own financial positions and more thought they could make savings in future. More households also said they could make big-ticket purchases.

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

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