Business chamber’s biannual business confidence index falls

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The biannual business confidence index of the Economic Research Institute (GVI) of the Hungarian Chamber of Commerce and Industry (MKIK) fell to +31 points in April from +38 points in October, according to a report by state news wire MTI.

The index drew on a survey of 2,227 managers and executives, a much larger sample than the one GVI uses for its quarterly gauge of business confidence.

Confidence was highest among manufacturing sector companies, at +39 points, while the measure stood at +30 points in the commerce sector, +26 points in the service sector and +20 points in the construction sector. Sentiment deteriorated the most – by 20 points – among construction companies.

Confidence was higher at foreign-owned companies (+42 points) than domestically-owned ones (+26 points).

GVI's gauge of business uncertainty edged up to 53 points in April from 52 points in October

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