GKI-Wallis business-consumer confidence index practically unchanged in November

Analysis

The GKI-Wallis combined, seasonally-adjusted consumer and business confidence index was about - 18 in November, falling a fraction from October, economic research institute GKI said on Monday.

Business confidence improved, but consumer confidence fell. Business expectations measured 6.7 on the index, a slight improvement from October. Industrial expectations were down slightly, triggered by a small rise in inventories. Managers reported an improvement in production and orders, including export orders, but did not expect to boost production. Fewer managers said they planned to raise prices, but more said they would make new hires. In the construction industry, prospects for new hires were unchanged from both September and October. Companies with orders related to the capital's fourth underground line were more optimistic in November than in October.

Managers in the trade sector reported improving sentiment for the first time in four months. They said consumer prices would rise about 2% in the coming three months. Managers' outlook for the economy as a whole improved significantly, especially among industrial managers. Still, more managers expected Hungary's economy to get worse before it grows better. Consumer confidence measured -51.8 on the GKI-Wallis index. Households' assessments of their own situations deteriorated further. Fewer households said they could save money and more respondents were worried about losing their jobs. In spite of their pessimism, more households said they expected their situations to get better. (Mti-Eco)

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