GKI confidence index falls as business sentiment sours

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Economic research institute GKIʼs confidence index fell to -23.7 points in November from -18.8 points in the previous month as business confidence worsened but sentiment among consumers improved a bit, according to a report by state news wire MTI.

GKIʼs measure of confidence in the business sector dropped to -20.4 in November from -13.4 points in the previous month.

Sentiment in the industrial sector worsened on assessments of order stocks, including export orders, and outlooks for production. Evaluations of inventories improved a bit as did assessments of production in the recent period, but fewer companies plan investments than a year earlier.

Confidence in the construction sector improved, which GKI said could be explained by government measures to support home construction and renovation. Assessments of order stock improved.

Confidence in the commerce sector moved close to the low point reached in April when the country went into lockdown because of the pandemic. Assessments of sales positions and outlook for order stock worsened, but companies were a little more optimistic about inventories.

Pessimism at service companies grew in all areas.

GKIʼs consumer confidence index rose to -33 points in November from -34.2 points in the previous month.

Householdsʼ assessment of their own financial positions improved a little and more planned to make big-ticket purchases of consumer durables. The share of consumers who said they could make savings was unchanged.

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