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GVI business confidence index rises

Analysis

The business confidence index of the Economic Research Institute (GVI) of the Hungarian Chamber of Commerce and Industry (MKIK) rose to +28 points in April from +14 points in October, according to piacesprofit.hu. 

The index has been on the rise since bottoming out at -25 points in April 2020. GVI said company managers' outlooks for doing business, investments, and orders "significantly improved." 

Foreign-owned businesses, exporters, construction companies, and those with a headcount of between 50 and 249 were more optimistic about the climate for doing business, while small companies and microbusinesses continued to anticipate a recession, in spite of improvements. 

GVI's gauge of expected labor market demand rose close to levels in April 2019. GVI surveyed 2,790 managers to compile the index.

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