Consumer, business confidence reaches highest level in two years
The GKI-Erste combined consumer-business confidence index rose to -16.7 points in May from -21.7 points in April, reaching a two-year high. The business confidence index climbed to -10.5 points from -15.6 points. In the industrial sector, both the assessment and outlook for output improved. Companies were also more optimistic about order stock. Assessment of output and order stock improved at a faster pace in the construction sector. Wholesalers and retailers were more optimistic about sales positions and orders, but said inventories were slightly up. Service sector companies were slightly less confident in May as the outlook for turnover worsened. The consumer confidence index increased to -34.4 points from -38.9 points. The outlook for households continued to improve as it has since last autumn. More planned purchases of big-ticket items and more said they could make savings.
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