Hungary: Economic sentiment slips further in March
The GKI economic sentiment index, a composite indicator, dropped to 6.2 points in March from 6.7 points in February. The decrease reflected a deterioration in business confidence which more than offset an improvement in consumer confidence.
The business sentiment component of the index fell to 12.1 points from 12.9 points in February on the back of weaker optimism in the industrial and construction sectors. Confidence in the trade and services sectors, on the other hand, rose.
Meanwhile, consumer confidence rose in March, with the index increasing to minus 10.7 points from minus 11.1 points in February. The increase reflected households’ more favorable views on their financial position, although they were less upbeat on their savings capacity and willingness to purchase high-value durables.