Consumer, business confidence improve in June
Economic research institute GKIʼs combined gauge of consumer and business confidence rose to 3.2 points in June, a historic high, from 1.7 points the previous month, Hungarian news agency MTI reported today. The standalone business confidence index rose from 7.9 points to 9.5 points.
In June, expectations improved in all sectors except among service companies, GKI said. Industrial companies gave positive views regarding output in the preceding period, their production outlook and domestic orders, as well as inventories.
In the construction sector, companiesʼ outlook improved minimally. Expectations improved among both building construction and civil engineering firms. Assessments of the order stock improved further.
Trade companies were increasingly optimistic regarding their selling positions, inventories and prospective orders.
In the service sector, there was a slight deterioration in overall sentiment, while companiesʼ assessment of turnover in the preceding period improved.
The consumer confidence index rose from -16.1 points to -14.6 points. Fear of unemployment lessened, as did inflationary expectations. Householdsʼ assessments of their own financial positions improved, as well as their ability to make savings.
GKI compiles the index with the support of European Union funding.
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