GKI confidence index falls as business sentiment sours
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.
Hungary Gasoline Prices 3% Over Regional Avg
Gov't Wants Sustainable Business Model for Magyar Posta
120,000 Guest Workers Employed in Hungary
Budapest Airport Wins 'Best Airport in Eastern Europe' for 1...
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
