Business confidence improves in January - GKI

Analysis

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Economic research institute GKI's gauge of business confidence rose to -10.1 points in January from -13.1 points in the previous month, according to a report by state news wire MTI.

The business confidence index reached its highest level since the start of the coronavirus crisis in the spring.

Confidence in the industrial sector increased on a better assessment and outlook for production, and an improved assessment of order stock.

In the construction sector, sentiment improved among building companies but worsened for civil engineering companies.

Companies in commerce were more optimistic about inventories and order stock, but gave a worse assessment of their sales position.

Confidence in the service sector improved "a little" as assessments of business improved but outlooks worsened.

GKI said earlier that its consumer confidence index rose to -33.8 points in January from -38.5 points in the previous month.

GKI's combined gauge of consumer and business confidence rose to -16.3 points in January from -19.7 points in the previous month.

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