Retail confidence index reaches record height

The GKI-Erste economic sentiment index kept growing dynamically in January, continuing the more than one year old trend.

Consumer expectations kept elevating and reached the highest level of the last eight years. Business expectations practically stagnated but even this means that they stayed in a height that was last seen thirteen years ago. Industry was the only sector in the business sphere where expectations didn’t become more optimistic. In January 2014 the retail confidence index reached a record height after a six-month grow. The service confidence index also improved, but only moderately. In practically each sector there was an increase in the willingness to employ. However, the last time people were so afraid of losing their job was twelve years ago. At the same time consumers’ fear from inflation kept reducing. GKI’s consumer confidence index improved considerably. People’s view of their own finances and possible savings in the next twelve months was more optimistic than in December.