Business Assoc Gauge Shows Decline in Sentiment

Analysis

Business association Vosz's measure of business confidence fell to 56 points in the second quarter from 61 in Q1, Ákos Kozák, the co-founder of the Balance Institute, which helps prepare the index, said on Thursday, according to a report by state news wire MTI.

The index, which moves on a scale of 0 to 100 points, is based on responses from over 400 businesses.

Among the sub-indices of the Vosz Barometer, the measure of business sentiment fell to 59 points from 62, and the gauge of propensity to make investments fell to 41 points from 49. The sub-index based on businesses' assessment of their financial situation dropped to 70 points from 74.

Businesses said declining purchasing power, higher prices, unpaid invoices, and a fall in orders were among their biggest challenges.

One in six businesses said they could cut headcount.

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