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SME confidence stagnates, survey shows

SME confidence has changed little in the past year, a fresh gauge of sentiment by Policy Agenda and OTP Bank shows.

Policy Agency and OTP Bank's SME confidence index was 42.2% for the fourth quarter, just under the 43.4% in the previous quarter, but level with the measure in Q4 2011.

In the latest survey, SME managers grew more pessimistic with regard to expectations for their own businesses as well as the economy as a whole.

About 60% of respondents at the 800 companies said the situation of the Hungarian economy would worsen in the coming six months, up from 56% in the previous quarter.

The percentage of managers who expect the situation of the their own businesses to worsen rose to 53% in Q4 from 44% in Q3.