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GKI-Wallis confidence index hits three-year record

The business and consumer confidence index published monthly by research institute GKI-Wallis continued to grow in February to hit a three-year high of minus 9.6 points, GKI said on Monday.  

The index showed an overall advance of 1 point from minus 10.6 points. The survey, which is supported by the European Union, found consumer confidence was up to a reading of minus 10.3 points, from minus 16.6 points a month before, the best result over the last three years. The business confidence index, by and large stagnating for half a year, fell from minus 8.6 points to minus 9.4 last month. Consumers are happier about their own financial position compared to the previous month and they expect their position to improve further over the next 12 months. The country's economic situation is also seen on an improving track and consumers' optimism is stronger than a month before.