GKI-Erste: Consumer, business confidence decline
Both consumer and business expectations worsened in January, as the combined gauge of consumer and business confidence index fell to -2.9 points from the previous month’s -0.2 points, GKI-Erste said today.
The business index fell to 4.4 points from the preceding 8.1 points, while the consumer index worsened to -23.8 from the previous 22.1 points.
Overall, business expectations declined across all sectors. Although industrial companies' assessments of output in the previous period improved, the outlook for production, order stock and inventories deteriorated.
The index of the construction industry saw a ten-month low due to an assessment of worsening order stock.
Pessimism grew for trade companies as well, in spite of their assessment of sales positions improving slightly.
Consumers' inflationary expectations waned, but unemployment fears increased.
The outlook for the Hungarian economy deteriorated slightly among consumers and industrial companies, but worsened markedly in all other sectors.
The seasonally adjusted GKI-Erste index is supported with European Union funding.
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