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Business confidence down, consumer confidence up in April

Economic research institute GKIʼs Economic Sentiment Index, its combined gauge of consumer and business confidence, fell 3.3 points to 2.9 in April, falling for the fourth month in a row, according to state news wire MTI.

The standalone business confidence index fell 5.0 points from the preceding month, to 7.1.

The industrial confidence index fell to a two-year low. The outlook for production, as well as companiesʼ assessments of orders - including export orders - and of inventories significantly worsened.

In the construction sector, prospects deteriorated for both building companies and civil engineering firms. Companiesʼ satisfaction with output in the previous period and their assessments of orders also slipped.

Sentiment in the commerce sector worsened as assessments of sales positions and orders deteriorated, while views on inventories improved.

The service sector confidence index dipped to a two-year low in April. Assessments of current sales and turnover in the previous period improved, but the outlook considerably worsened.

The consumer confidence index, the other main component of the Economic Sentiment Index, improved by 1.8 points to -8.9. Households were more pessimistic about their own financial positions, but more positive about their ability to make savings.

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