Economic expectations inch up in June

Analysis

An increase in business confidence offset a decrease in consumer confidence, leaving economic expectations practically unchanged in June, according to a report released Sunday by GKI, which produces the GKI-Erste index of economic sentiment in Hungary.

“In June, following two months of decline, the industrial confidence index rose to a relatively high level reached at the beginning of the year,” GKI announced. The more optimistic business sectors include construction and services, where growth and hiring are anticipated. Industry was less upbeat, and confidence among businesses in that sector continued to decline slightly, despite increases in confidence among business overall.

GKI’s confidence ratings showed that employers expected to hire more but consumers were less confident about this hiring.

“The ratio of [surveyed business] planning an increase in employment exceeded the ratio of those intending reduction in all sectors with the exception of trade,” according to the report, which added: “The fear of unemployment by house-holds picked up.”

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