GKI-Wallis confidence index worsens in August
Tuesday, September 13, 2005, 10:01
Hungary's business confidences worsened some in August to -15.2 from -14.2 in July, while the consumers' confidence index improved to -27.8 in August versus -28.9 in July, a joint survey by research institute GKI Gazdaságkutató Rt and Wallis showed.
The composite GKI-Wallis confidence index rose to -18.5 in August from -18.0 in July. Confidence is measured on a -100 to +100 scale. Among businesses, industrial companies' confidence has been improving now for the fourth month after dropping for one year. Trade companies' confidence fell, while the building industry's confidence remained unchanged from July. Industrial companies reported improving production, orders (including exports) and stocks compared to July. Trade companies reported weaker business in August because of a slower inflow of orders. More trade companies said in August they expect inflation to rise, but far less than in the same period a year earlier. Consumers said their financial situations were unchanged from July, but had brighter views on the state of the economy and had higher expectations for the next twelve months.