Consumer, business confidence decline in August

Logistics

Research institute GKIʼs Economic Sentiment Index, a combined gauge of consumer and business confidence, declined by 3.8 points to 6.7 in August, its lowest point this year, albeit after reaching a historical peak in the previous month, national news agency MTI reported Monday.

The standalone business confidence index slipped 4.0 points to 13.3, while the consumer confidence index slipped 3.2 points to -12.2.

With regard to business confidence, a poorer assessment of order stocks weighed on sentiment in the industrial sector. Sentiment also worsened somewhat with respect to production and inventories.

Construction sector confidence improved slightly as the outlook for civil engineering companies brightened, although prospects for companies engaged in the construction of buildings worsened.

Confidence among retailers and wholesalers was little changed. Companiesʼ assessment of their sales position was a little better, but they were more negative about order stocks.

Sentiment in the service sector worsened noticeably.

As for consumer confidence, householdsʼ evaluation of their own financial position worsened, as well as of their ability to make savings. Fewer said they planned to make big-ticket purchases.

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

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