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German-Hungarian business chamber’s gauge of confidence rises further

German-Hungarian business chamber’s gauge of confidence rises further

The latest annual gauge of business confidence by the German-Hungarian Chamber of Industry and Commerce (DUIHK) has risen to 28 points from 21 points in 2017, DUIHK chairman Dale A. Martin said on Tuesday.

The survey shows that the companies’ willingness to make investments became stronger as did hiring plans, with more than half of respondents planning to increase headcount and just 10 percent planning lay-offs, he said.

About 43 percent of respondents said they plan to spend more on investments than in earlier years and only 11 percent said they would spend less on developments, although they had negative views on the availability of qualified workforce in both Hungary and the region, he added.

Some 53 percent of respondents in Hungary wish to expand headcount.

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The survey shows the company managers have seen significant improvement in the areas of taxation and public administration. At the same time, assessments of the availability of qualified workforce deteriorated as did views on legal security, corruption and the transparency of public procurements.

The commitment of German investors operating in Hungary strengthened, with 84 percent of respondents saying they would bring their investment here again if they had to make the decision now, a higher percentage than last year. The confidence index reflects companies’ views on the position of the national economy, the company’s own business position, its expectations and revenue projection on a scale of -100 to +100.

Source: MTI

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