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Consumer, business confidence improves in November - GKI

Economic research institute GKIʼs combined gauge of consumer and business confidence rose to 2.8 points in November from -0.7 in the previous month on a marked improvement in business confidence, state news wire MTI reports.

The business confidence index rose to 7 points from 2.5.

Industrial companiesʼ assessments of output in the recent period as well as order stocks, improved, and outlooks were more optimistic.

In the construction sector, sentiment deteriorated among building companies but improved for civil engineering companies. Assessments of order stocks were a little better.

Confidence in the commerce sector was little changed. Sales positions improved, but companies delivered poorer assessments of inventories.

The consumer confidence index edged up to -9.2 points from -9.8. Households were a little more optimistic about their financial positions, but noticeably more positive about their chances to make savings. Slightly fewer households planned to make big-ticket purchases.