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Confidence index hits highest point since 2003

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The GKI-Erste combined consumer-business confidence index has shown improving sentiment for several consecutive months and in November reached three-year statistical peaks with a score of -6.1. But even last month’s nice figures paled in comparison to the December upswing, a combined mark of -2.9, the highest seen since 2003.

 

On one side, consumer confidence rose from the already impressive -23.2 score in November to -22.7 this month for a three-year peak; in October, the score was -29.4.

Most notable of all, however, was easily the +4 score given in business confidence: This marks the first time a positive score was earned on the GKI-Erste metric since 2010 and, incredibly enough, the highest since 2001.

Business news outlet Portfolio.hu noted that “Only the construction industry index remained in the negative range,” while “Confidence in retail and wholesale trade has risen significantly. Respondents commented favorably on sales position, inventory stock and expected new orders alike. Sales forecasts were an area where service companies became particularly more optimistic from November to December, while their general business confidence has also improved.”

The GKI-Erste confidence index is adjusted for seasonal effects and prepared with the support of the European Union.

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