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Business sentiment worsens, consumer confidence up

Economic research company GKIʼs combined gauge of consumer and business confidence edged down to -2.6 points in February from -2.5 points in January, according to a report by Hungarian news agency MTI.

The business confidence index fell to 0.7 points in February from 1 point in the previous month. 

Confidence improved in the industrial sector after deteriorating for two months, but was still well under levels in November. Companies delivered better assessments of output and order stock in recent months and reported a brighter outlook for production.

In the construction sector, sentiment worsened, reaching a three-year low.

Confidence slipped in the commerce sector as companies were slightly more pessimistic about sales positions and inventories and noticeably more negative about orders.

In the service sector, the outlook worsened but overall assessments were little changed.

The consumer confidence index rose to -12.1 points in February from -12.5 points in January. Households were more optimistic about their financial positions, but less so about their ability to make savings. Fewer planned to make big-ticket purchases.