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Consumer confidence down, business confidence stable in September

Analysis

Economic research institute GKIʼs combined gauge of consumer and business confidence edged down to -19.3 points in September from -19 points in the previous month as consumer confidence worsened and business confidence improved, but only within the margin of error, according to a report by state news wire MTI.

GKIʼs measure of confidence in the business sector edged up to -15.1 points in September from -15.3 in August.

Confidence in the industrial sector slightly improved as assessments of order stocks - including export orders - as well as inventories was more positive, however, views on the production outlook deteriorated. 

Construction sector expectations also improved only slightly. Views on output in the previous three-month period improved but assessments of order stocks remained unchanged.

Confidence in the commerce sector deteriorated only minimally. While assessments of sales positions worsened, views on orders improved. Those of inventory levels were stable. 

Service sector companies were more positive in their views on business in general but their turnover expectations deteriorated. 

GKIʼs consumer confidence index fell to -31.1 points in September from -29.6 points in August.

Consumersʼ unemployment fears strengthened in September.

Households assessed their own financial position as moderately improving but views on their future ability to make savings were unchanged. Consumers were more pessimistic about their ability to make big-ticket purchases.

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