GKI: This year's business expectations are in nadir in July

Compared to the April peak, the business and consumer confidence expectations have deteriorated in July.

However, the reduction of the GKI-Erste sentiment index was due to the significant drop in the business confidence index.

Within the business sphere, the expectations of all sectors – excluding construction industry – have declined in July, compared to the previous month. The business confidence index fell from 5.4 points to 1.4 points, so overall, more companies expect improvement than a deterioration. GKI’s survey was carried out with the support of the European Union. (MTI)