Consumer confidence falls, business confidence gains in October

Logistics

Economic research institute GKIʼs Economic Sentiment Index, a combined gauge of consumer and business confidence, improved 1.7 points to 7.2 points in October, rising after falling for two months in a row, state news agency MTI reported.   

GKIʼs standalone business confidence index rose 2.7 points to 13.1, while the consumer confidence index fell 1.2 points to minus 9.5.    

Sentiment in the industrial sector improved on a more optimistic assessments of output in the previous period. The construction sector confidence index rose as building companiesʼ outlook improved, while that of civil engineering companies worsened. The assessment of output in the previous three months improved significantly, while that of the order stock was slightly better.  

In trade, retailers and wholesalers were slightly more pessimistic about their sales positions and prospective orders, but were more positive about inventories. Sentiment in the service sector improved for the second month in a row, albeit only slightly.

The fall in consumer confidence reflected householdsʼ slightly worse evaluation of their own financial position, although optimism about their ability to make savings improved a bit further.

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

ADVERTISEMENT

Varga puts 2021 GDP growth at 7-7.5% Analysis

Varga puts 2021 GDP growth at 7-7.5%

Opposition parties to begin PM candidate primaries Elections

Opposition parties to begin PM candidate primaries

New managing director at the helm of Wolt Hungary Appointments

New managing director at the helm of Wolt Hungary

Budapest bike-sharing scheme boasts record ridership City

Budapest bike-sharing scheme boasts record ridership

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.