Business, consumer confidence down in January
Economic research institute GKIʼs economic sentiment index, its combined gauge of consumer and business confidence, fell 1.5 points to 7.1 in January, falling after climbing three months in a row, according to a report by state news wire MTI.
Of the two main components of the economic sentiment index, the standalone business confidence index likewise fell 1.5 points to 13.9 as sentiment worsened among industrial and construction companies, though improving in the service and commerce sectors.
Industrial companiesʼ assessment of production, outlook and their overall order stock - including export orders - worsened. Views about inventories were slightly more positive.
Outlook deteriorated the most in the construction sector, although it still remained very positive. The outlook for both civil engineering companies and building companies worsened slightly.
In the commerce sector, sentiment improved slightly after worsening for three months in a row. Assessments of sales positions improved a little, but views on inventories and order stocks slightly deteriorated.
The service sector confidence index minimally improved as companiesʼ assessment of ongoing business worsened, but the outlook was better.
Meanwhile, the consumer confidence index - the other main component of the economic sentiment index - also fell 1.5 points to -12.1. Households were more pessimistic about their own financial positions and fewer thought they could make savings in future, although more households said they could make big-ticket purchases.
GKI compiles the index with the support of European Union funding.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.