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GVI: Business confidence improves in Hungary

Analysis

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The biannual gauge of business confidence by the Hungarian Chamber of Commerce and Industry’s (MKIK) Economy and Business Research Institute (GVI) rose by almost 10 points from April to 23 points in October.

MKIK chairman László Parragh said at a press conference yesterday that expectations were improving although uncertainty in the economy remained high.

The index showed better outlooks in all areas, but especially in exports and industry. Indicators were positive for the services sector and even the construction sector, which has been in a long slump. Businesses expect stagnation on the labor market, but see investments picking up slowly.

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