Pessimistic mood in Hungarian Economy

According to GKI conducted survey, with European Union support, the overall confidence index down from September's minus 16.8 to minus 21.1 percent for October.

 The consumer confidence index deteriorated from minus
49.3 percent in September to minus 50 percent in October, while the business
confidence index plummeted from minus 5.4 percent to minus 10.7 percent. The
analysts point out that the industrial confidence has been decreasing for
several months now, after a high point in early summer and it fell to the
lowest level this year in October. Manufacturing expectations were unchanged
from September and expectations regarding inventories and orders were down.
In commerce, the confidence
index has been dropping since July. Sales expectations were somewhat higher in
October than in the previous month, while orders were slightly down and
expectations of price increases also fell.
The confidence index for services plummeted in October
after months of constant increase, the analysts said. Turnover expectations
fell significantly and were in the negative range once again.