SME confidence improves in second quarter

Analysis

The business confidence of small and medium-sized enterprises (SMEs) hit 24 points in July, climbing from 18 points in April, according to a report compiled by the Institute for Economic and Enterprise Research (GVI) of the Hungarian Chamber of Commerce and Industry (MKIK), cited by state news wire MTI.

SMEsʼ confidence improved as companies showed greater optimism with regard to their current business options, profitability and changes in order stocks. The current business opportunities subindex saw a particularly big rise, from 35 to 55 points.

Investment activity among companies rose in Q2 compared to Q1, but the expected capacity utilization rate was down, as were expectations for future production levels.

Despite the overall improvement, the main SME confidence indicator was still down by three points from a year earlier.

SMEsʼ uncertainty gauged by a separate index decreased by six points to 35 points from the previous quarter, and was down one point compared to July 2016.

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