GKI-Erste: Business, consumer confidence improve
GKI-Erste's combined gauge of consumer and business confidence increased 1.2 points in October from minus 2.3 points in September as business and consumer expectations improved. The index came close to its fifteen-year high, which was reached in April of this year.
The business index was up 7.8 points from 3.6 points and the consumer index improved in October to minus 17.6 points up from minus 19.1 points.
Business expectations improved across all sectors apart from the trade sector. In the industrial sector, the outlook for production and the assessment of order stock were significantly better, with improvements in domestic orders in particular.
The construction sector index increased to a 13-year high in October as the assessment of order stock improved.
Trade companies' expectations declined as the assessment of both their sales position and order stock worsened.
The service sector index improved as companies were more optimistic with regards to prospective turnover.
Consumers' inflationary expectations and fears of unemployment declined.
The assessment of the outlook of the Hungarian economy improved in all business sectors apart from construction and trade, although it worsened among consumers.
The assessment of financial outlook among households improved with more households reporting that they would be able to accumulate savings in the coming year.
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