GKI-Erste confidence index down, 9-month streak snapped
What goes up must come down, as the old saw goes, and the principle applies for the GKI-Erste gauge of consumer and business confidence in Hungary. After nine months of increases culminating in last month’s 10-year high, sentiment is down in the country in February due to lowered expectations of Hungary-based enterprises combined with low confidence of households to save.
GKI-Erste’s combined gauge of consumer and business confidence fell in February, dropping for the first time in nine months as outlooks worsened. Expectations deteriorated among both businesses, with the exception of the industrial sector, and households. Industrial companies’ assessment of production improved and order stock increased.
The measure of sentiment in the construction sector fell for the first time in many months in February, albeit slightly. The gauge of the trade sector fell significantly after rising for seven months. Expectations for orders deteriorated noticeably. In the service sector, the assessment of business trends worsened, but companies reported improving turnover.
The gauge of consumer confidence fell after climbing for more than a year. Households’ assessment of their own financial positions and their ability to make savings worsened.
The GKI-Erste survey is supported by European Union funding.
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