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Business outlook worsens, consumer confidence improves in June

The outlook of Hungarian businesses worsened slightly in June from the previous month, but consumer expectations improved markedly, the latest combined gauge of consumer and business confidence by research institute GKI and Erste shows.

The combined consumer-business confidence index rose slightly to -24.5 in June from -24.9 in May. The gauge of business confidence slipped to -14.6 from -14.0. The measure of consumer sentiment rose to -52.6 from -55.9.

Businesses' assessment of production and stock of orders was unchanged in June, but evaluations of export orders improved. Their outlook for production worsened.

The gauge of confidence in the construction sector edged up on an improved assessment of order stock.

The gauge of confidence in the trade sector also rose a bit as more companies expected orders to increase.

Expectations in the service sector worsened.

Households' outlook for their financial position improved and more expected to be able to make savings. Households' assessment of their own financial positions was little changed.

The GKI-Erste combined business-consumer confidence index is supported by European Union funding.