Consumer confidence falls, business confidence rises

Logistics

Economic research institute GKIʼs Economic Sentiment Index, a combined gauge of consumer and business confidence, improved by 0.3 of a point to 7.5 in November, rising for the second month in a row, Hungarian news agency MTI reported.

Of the two main components of the Economic Sentiment Index, the standalone business confidence index rose 1.3 points to 14.4, while the consumer confidence index fell 2.6 points to minus 12.1.

Sentiment in the industrial sector improved minimally on a more optimistic outlook for the coming period and more positive assessments of orders, particularly export orders.

The construction sector confidence index rose to a new peak as civil engineering companiesʼ expectations improved, while those of building companies slightly worsened. The assessment of output in the previous three months slightly deteriorated, while that of the order stock was significantly better.

Retailers and wholesalers were more pessimistic about their sales positions, but more positive about prospective orders. Sentiment in the service sector improved for the third month in a row.

In terms of consumer confidence, householdsʼ evaluation of their future ability to make savings worsened significantly from the previous month and they were also far more pessimistic about their ability to make big-ticket purchases.

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

ADVERTISEMENT

Wizz Air issues EUR 500 mln bond Transport

Wizz Air issues EUR 500 mln bond

1,438 new COVID-19 cases registered in Hungary Figures

1,438 new COVID-19 cases registered in Hungary

Gov't to roll out PIT exemption for Hungarians under 25 Government

Gov't to roll out PIT exemption for Hungarians under 25

Tourism nights down 85% y.o.y. in November 2020 Tourism

Tourism nights down 85% y.o.y. in November 2020

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.