GKI-Erste: Business confidence worsens, consumer sentiment improves in October
GKI-Ersteʼs combined gauge of consumer and business confidence stood at -0.8 points in October, up from -1.8 in September, Hungarian news agency MTI reported today.
The business confidence index fell to 5.8 points in October from 7.5 in the previous month. The consumer confidence index rose to -19.6 points from -28.3.
Businesses in all but the commercial sector were more pessimistic. Industrial companiesʼ assessment of output in the previous period and of the order stock including export orders improved while that of inventories and their production outlook deteriorated.
The construction sector index fell after rising in the previous two months as companiesʼ assessment of orders worsened.
Confidence in the commercial sector has reached its peak so far this year as the assessment of sales positions and the expectations for orders were markedly better. Companies in commerce said inventories were slightly higher.
Companies in the service sector said business was worse and the outlook has deteriorated.
Householdsʼ assessment of their own financial position improved and a larger number said they could make savings in the coming year. More households also said they planned big purchases in the coming period.
The seasonally-adjusted GKI-Erste index is supported through European Union funding.
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