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Business sentiment improves, GVI survey shows

Analysis

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The business confidence index of the Economic Research Institute (GVI) of the Hungarian Chamber of Commerce and Industry (MKIK) rose to +32 points in July from +27 points in April, according to a report by state news wire MTI.

The index has risen since bottoming out at -25 points in April 2020 and has now practically recovered to its pre-coronavirus level of +33 points in January 2020.

The index was highest at +35 points among manufacturing companies, it was at +34 points among retail firms and was at +33 points among construction companies. It was lowest at +27 points among companies providing other business services.

The quarterly uncertainty index was unchanged from April to July and was at +38 points.

GVI surveyed 350 managers to compile the index.

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