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Business and consumer confidence indices up

The overall confidence index in Hungary rose significantly, from minus 18.5 points to minus 13.3 in September, analyst GKI-Wallis reported. Manufacturer optimism showed a substantial upswing in September, with the survey sample seeing both past and forthcoming production figures in a more optimistic light than they had in August. They expected orders including export orders to rise. Optimism in the building industry also picked up, as did hiring intentions. In
commerce, businesses reported that sales and orders were increasing, the survey noted. The consumer confidence index has been rising steadily since early summer, and stood at minus 26.1 points in September. In September, consumers saw their own financial situations to be somewhat better than in August and they are counting on a slight improvement over the next 12 months. Consumers had a more optimistic view of the country's economic situation than a month ago but expected a slight deterioration in the coming year. Inflationary expectations grew somewhat in comparison to August and consumers predict moderate inflation through the coming 12 months. Employment expectations have improved significantly among consumers and spending is also up compared to August. More consumers have said that this is a good time to save, too, noted GKI.