Consumer, business confidence improve in February

Economic research institute Gazdaságkutató Intézet’s (GKI) combined gauge of consumer and confidence rose to 9.5 points in February from 8.2 points in the previous month.

The business cgraphonfidence index increased to 15.5 points, a new peak, from 14.2 points as industrial and trade companies’ expectations improved. Construction and service companies were slightly less optimistic.

The industrial confidence index rose in February after edging down in the previous month.

The measure of construction companies’ confidence slightly deteriorated as their assessment of output in the previous three months slightly worsened while that of orders improved.

In the trade sector, assessments of both sales positions and inventories were better, although views on order stock deteriorated.

The consumer confidence index rose to -7.6 points from -8.9 points.

Consumers have not been this optimistic since November 2002.

Consumers’ expectations of their prospective financial position were slightly better while they expected their ability to make savings to improve significantly. They were also more optimistic about their ability to make big-ticket purchases.

Source: MTI