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Consumer, business confidence improve minimally in September, says GKI

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Business and consumer confidence both edged up in September, according to a survey by economic research institute GKI, Hungarian news agency MTI reported.

GKIʼs combined consumer and business confidence index rose to minus 3.6 points in September from minus 3.9 points in August. 

The business confidence index edged up to 1.7 points from 1.2.

The confidence index for the industrial sector fell further. Industrial companies gave a better assessment of output, outlook and inventories in recent months, but were negative about their order stock including export orders.

The gauge of confidence in the construction industry improved perceptibly after falling in the previous two months.

In commerce, the confidence marker rose slightly after declining for two months in a row. Companiesʼ assessment of sales positions and orders improved but that of inventories worsened.

The service sector index was unchanged in September, with companies slightly more positive about turnover in the previous period but more pessimistic about prospective turnover.

GKIʼs consumer confidence index edged up to minus 18.5 points in September from minus 18.6 points in August. More households expected an improvement in their financial positions but fewer thought they could set aside savings in the coming period. Slightly more 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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