GKI-Erste: Businesses not as confident as consumers

Analysis

GKI-Erste announced today that their combined index of consumer and business confidence fell in July as a result of worsening expectations among companies.

The combined index fell by 1.0 point to -3.9, according to the analysts at GKI-Erste. Although the consumer confidence index rose to -18.9 in July, an improvement on its -19.3 score in June, the business confidence index dropped to 1.4 from 5.4.

In the industrial sector, there was a deterioration in expectations for output and assessment of orders – with the exception of export orders, GKI-Erste reported.

Construction companies saw a slight improvement in confidence, reaching a twelve-month peak, while expectations for trade and service companies worsened.

Although consumers reported being financially better off than before, just few of them said they expected to be able to put away savings in the upcoming period.

The seasonally adjusted GKI-Erste index is supported with European Union funding.

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