Consumer, business confidence drops in October
GKIʼs combined consumer and business confidence index fell to minus 4.5 points in October from minus 3.6 points in September, according to Hungarian news agency MTI. The business confidence index inched down from 1.7 points to 1.0 points.
The confidence index for the industrial sector fell for the third month in a row. Industrial companies gave a worse assessment of output in recent months as well as of their stock of orders, though not export orders. They were pessimistic about inventories, but more optimistic about their outlook.
The gauge of confidence in the construction industry showed a negative correction as companies were more pessimistic about their orders.
In the commercial sector, the confidence marker rose slightly as companiesʼ assessment of their sales position and inventories improved, although confidence in orders was slightly worse.
The service sector confidence index fell slightly in October.
GKIʼs consumer confidence index fell to minus 20.3 points in October from minus 18.5 points in September. Fewer households expected an improvement in their financial position or thought they could set aside savings in the coming period. Slightly fewer consumers planned to make big-ticket purchases in future.
GKIʼs measure of consumer and business confidence is supported by European Union funding.
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