Are you sure?

GKI composite confidence index continues to rise in February

GKI's combined gauge of business and consumer confidence measured -5.1 in February, rising from -6.3 in January and -7.3 in December, GKI reported over the weekend.

The components of the index, compiled with the support of the European Union, showed the measure of business confidence improving for the fifth consecutive month, rising to 2.9 in February from 0.5 in January, -1.8 in December, -2.6 in November, -5.2 in October and -7 in September. However, the consumer confidence index slipped for the fourth consecutive month, declining to -27.7 in February from -25.8 in January, -24.1 in December, -20.8 in November and -20.6 in October.

The composite index was unchanged between last November and December, and last declined in September 2010. The business confidence index last declined in September 2010 as well.

The consumer confidence index last improved in October 2010.

Among businesses all sectors became more optimistic in February except for the trade sector.

The outlook of the industry and construction industry improved significantly after stagnating for a half a year, while the outlook of trade companies slipped in February after improving for several months.

Industrial companies' assessment of production prospects and orders improved, especially for export orders while their opinion on the output and own products in inventories in the past months worsened slightly.

The index for the construction sector rose significantly after near stagnation in the previous six months. Their assessment output and orders of the last three months also improved significantly.

Trade companies' expectations with regard to orders improved during the month, while they assessed their stock and selling positions as deteriorating.

The outlook for service companies improved due to a optimistic turnover outlook.

Companies in all sectors of the economy with the exception of the industrial sector planned to make new hires, particularly companies operating in the construction sector.

Unemployment worries decreased among households in February.

Companies in every sector of the economy planned to raise prices to a greater or lesser degree, while the inflationary expectations of households also increased.

Households considered their own financial position significantly worse than in January but their opinion on their ability to save in the next twelve months improved.