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Consumer, business confidence continues to improve in June

GKIʼs combined gauge of consumer and business confidence rose to -20.5 points in June from -28.1 points in May, the economic research institute said on Monday, according to a report by state news wire MTI.

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GKI earlier said the consumer confidence index rose to -32.8 points in June from -38.5 points in May as householdsʼ fears of unemployment waned, they were less pessimistic about their financial situations and their outlook for the Hungarian economy, albeit still pessimistic, improved.

On Monday, the institute said its business confidence index improved to - 16.2 points in June from -24.5 points in May.

Pessimism continues to be strongest in the industrial sector. Businesses were more optimistic concerning future production but were more gloomy about order stocks. 

In the construction sector, sentiment continued to improve following a big drop in April.

 In the retail sector, the assessment of the sales position deteriorated further but the expected development of new orders was felt to be better than in April.

In the service sector, companiesʼ views on both past and future performance improved and business confidence was highest in this subcategory in June.