Although pessimism declined further in June, it remained very strong

Although the GKI economic sentiment index rose by a larger extent in June than in May, it elimi-nated only a smaller half (44 percent) of its April fall. According to the empirical survey con-ducted by GKI (www.gki.hu) with the support of the EU, the consumer confidence index rose to a greater extent in May and the business confidence one in June. This is mainly due to the fact that industrial expectations started to improve in June after their continuing deterioration in May.

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