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Business climate slightly deteriorates from April, says MKIK

Analysis

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The business climate deteriorated slightly, a gauge of sentiment by the Economy and Business Research Institute (GVI) of the Hungarian Chamber of Commerce and Industry (MKIK) showed on Thursday, as it fell to 48 points in October from 49 points in April, Hungarian news agency MTI reported.

In the sub-categories, current business climate sentiment improved to 41.5 points from 36.6 points and sentiment for the next half year was also up at 37.5 points from 31.9 points. 

Business are more optimistic about profitability, rating the current situation higher at 29.6 points compared to 22 points before.

These gains were, however, offset by a fall to 15.6 points from 17.2 points in future profitability and a drop to 78.5 points from 82.5 points for new orders in the coming six months.

Businesses also reported they expect lower construction investment volumes and lower investment in new machinery with slightly less willingness than before to hire more workers.

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