Consumer, business confidence grow in February
Economic research institute GKIʼs combined gauge of consumer and business confidence rose to 9.5 points in February, up from 8.2 points in the previous month. The standalone business confidence index increased from 14.2 points to 15.5 points, a new peak.
According to the empirical survey conducted by GKI with the support of the EU, business expectations have never been more favorable than now, while consumer expectations were more favorable only once, during the few months of the Medgyessy government’s 100-day program in 2002.
The industrial confidence index rose further in February after edging down in the previous month. Companies were more optimistic about the outlook for production as well as orders, including export orders, although assessments of inventories deteriorated, national news agency MTI reported, citing GKI.
The measure of construction companiesʼ confidence slightly deteriorated as their assessment of output in the previous three months slightly worsened while that of orders improved.
In the commerce sector, assessments of both sales positions and inventories were better, although views on the order stock deteriorated. The service sector confidence index worsened somewhat in February.
The separate consumer confidence index rose from -8.9 points to -7.6 points. Consumersʼ expectations of their prospective financial position were slightly better, while they expected their ability to make savings to improve significantly. They were also more optimistic about their ability to make big-ticket purchases.
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