GKI-Erste confidence index up to near 12-year high

Analysis

After decreasing a bit overall in February, the GKI-Erste gauge of consumer and business confidence bounced back in March to reach an 11½-year high. The total index rating was -0.7, the best mark since August 2002; also reaching a peak was consumer confidence, measured at an eight-year high mark of -15.9.

Business confidence, having reached an all-time high last month, dropped slightly to 4.7 from 4.9.

“Consumers see improving financial conditions and a better capacity to save over the next year,” GKI opined in a statement accompanying announcement of the results.

The monthly GKI-Erste survey is supported by European Union funding.

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