Business Sentiment Up, Consumer Confidence Down in September

Analysis

Economic research institute GKI's combined gauge of consumer and business confidence edged down to -14.5 points in September from -14.3 points in the previous month, according to a report by state news wire MTI.

The business confidence index rose to -1.1 points from -2.1 points.

In the industrial sector, assessments of inventories and order stocks improved, with the exception of export orders. Assessments of output in the previous period and production outlooks worsened.

Sentiment in the construction sector deteriorated as companies in both the building and civil engineering segments reported worsening outlooks and order stocks.

In the commerce sector, outlooks for sales positions worsened "a little", but assessments of orders were "much better".

Among service sector companies, assessments of business in general and outlooks for turnover in the future were more positive.

The consumer confidence index dropped to -52.6 points in September from -49.2 points in the previous month, falling lower even than during the first pandemic lockdown. Fewer households said they could make savings and fewer planned to make big-ticket purchases.

GKI's gauge of business and consumer confidence is supported by European Union funding.

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