Business confidence edges lower

Economic research institute GKI's gauge of business confidence fell to -11.5 points in February from -10.1 points in the previous month, according to a report by state news wire MTI.

Sentiment in the industrial sector deteriorated after improving for two months in a row as the outlook for production worsened. Assessments of inventories, however, were better.

The gauge of expectations in the construction sector inched up, albeit within the margin of error. Assessments of output in the previous three months improved.

In the commerce sector, the improvement in sentiment in January was more than wiped out in February, although companies were more optimistic about inventories.

Confidence in the service sector grew for the third month in a row.

GKI said earlier that its consumer confidence index fell to -34.9 points in February from -33.8 points in the previous month.

GKI's combined gauge of consumer and business confidence fell to -17.6 points in February from -16.3 points in the previous month.

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