Consumer, business confidence at two-year low in December
GKI-Erste’s combined measure of consumer and business confidence reached -24.6 points in December, dropping from -23.2 points in the previous month to a two-year low.
The business confidence index measured -14.5 points in December, edging down from -14.0 points in November.
Expectations among industrial companies improved a bit on better assessments of stock of orders.
Trade companies said their sales positions improved, but they were less optimistic about their stock of orders and thought inventory levels were high.
Expectations of service sector companies worsened noticeably, falling to levels in October.
Pessimism remained the worst in the construction sector.
The consumer confidence index dropped to -53.3 points in December from -49.5 points in November. Fewer households said they could make savings but more said they could buy big-ticket consumer durables.
The GKI-Erste seasonally-adjusted consumer and business confidence index is calculated with the support of European Union funding.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.