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Consumer, business confidence deteriorate in Jan - GKI

Economic research institute GKIʼs combined gauge of consumer and business confidence fell to -2.5 points in January from -1.1 points in the previous month on a significant deterioration in consumer sentiment, state news wire MTI reports.

GKIʼs measure of confidence in the business sector edged down to 1 point in January from 1.5 points in December.

Confidence in the industrial sector fell to a more than six-year low on worsening assessments of output and production. Companies were a bit more positive about order stock, although not export orders.

Sentiment in the construction sector was little changed as building construction companies were more optimistic but pessimism among civil engineering companies grew. Assessments of output slightly worsened but views on order stocks improved.

Confidence in the commerce sector was little changed. Assessments of sales positions and inventories were slightly better than in the previous month but the outlook for orders deteriorated. 

The outlook in the service sector improved slightly in January.

GKIʼs consumer confidence index fell to -12.5 points in January from -8.4 points in the previous month. Households were significantly more pessimistic about their financial positions and slightly more negative about their ability to make savings.