Consumer, business confidence up in December


GKIʼs combined consumer and business confidence index rose to -0.9 points in December, up from -2.2 points in November, according to a report by Hungarian news agency MTI.

The business confidence index alone rose from 2.8 points to 3.7 points, according to the report.

In the industrial sector, the improvement was mainly due to more positive views of orders, including export orders, while the assessment of production in the past months improved as well. On the other hand, views on the production outlook and inventories deteriorated. The measure of confidence in the construction sector reached a 15-month peak as orders improved.

Sentiment among commercial companies improved as assessment of sales positions slightly deteriorated, while that of inventories and orders considerably improved.

The service sector confidence index was almost unchanged from the previous month.

The consumer confidence index, meanwhile, rose to -14.1 points from -16.5 points, as fear of unemployment eased and inflation expectations weakened.

GKIʼs measure of consumer and business confidence is supported by European Union funding, MTI noted.


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