April 25, 2016
The GKI-Erste economic sentiment continued to worsen in April, dropping from minus 2.8 points in March to minus 3.9 points and thus hitting the lowest level since August 2014. The result was driven by a deterioration in business sentiment, while consumer confidence improved somewhat.
Business sentiment tallied 2.2 points in April, coming in below March’s 4.6 and marking the lowest print in 20 months. According to GKI, in April, sentiment fell across all sectors except for trade.
Meanwhile, consumer confidence advanced from March’s minus 23.8 points to minus 21.1 points in April. According to GKI, the improvement was driven by the fact that consumers turned more positive about their financial situations for this year as well as their ability to purchase large-ticket items. Conversely, they grew more pessimistic about their savings capacity, while their expectations regarding the general economy in the next year did not change compared to March.