Consumer confidence slips, business confidence up in February
Economic research firm GKIʼs combined consumer and business confidence index slipped to 0.1 points in February, from 0.2 points the previous month, Hungarian news agency MTI reported. The standalone business confidence index rose slightly from 4.4 points to 4.5 points.
The industrial confidence index worsened as the outlook deteriorated for both output in the previous period and prospective output, as well as the assessment of orders, including export orders.
The construction sector index reached a 28-month peak, mainly on improvements among civil engineering companies.
Sentiment among commercial companies improved minimally as assessments of sales positions and inventories improved, while that of orders slightly deteriorated. The service sector confidence index improved.
The consumer confidence index fell to -12.4 points from -11.7 points. Although fear of unemployment eased, inflationary expectations strengthened.
GKIʼs measure of consumer and business confidence is supported by European Union funding.
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