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Business confidence improves, consumer sentiment worsens

Analysis

Business confidence improved as sentiment among households worsened in November, state news wire MTI reports citing a monthly survey by economic research institute GKI.

GKI's combined gauge of business and consumer confidence edged down to 0.2 points in November from 2.5 in October.

The business confidence index inched up to 9.1 points from 8.7.

Improved outlooks for production and better assessments of inventories in the industrial sector boosted the business confidence index. Industrial companies were not as upbeat about their order stock or output in the previous months.

In the construction sector, the outlook for building companies improved, but worsened for ones in the civil engineering sector. Assessment of order stock improved, although the labor shortage and supply chain bottlenecks remained challenges.

Companies in the commerce sector said their sales positions improved and delivered better assessments of inventories. More expected an increase in order stock.

Sentiment in the service sector worsened "a bit" in November as assessments and outlooks soured.

GKI's consumer confidence index slipped to -25.1 points in November from -15.2 in October to reach a level last seen in April. Households' assessments of their financial situations worsened, while fewer said they could make savings or planned to make big-ticket purchases.

GKI's combined business-consumer confidence index is supported with European Union funding.

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