GKI’s economic sentiment index hardly changed in September

August was the fourth consecutive month when business and consumer expectations were worsening. This trend continued for consumer expectations in September, but business expectations improved a little. GKI Economic Research’s survey has revealed that consumers are now more pessimistic than in the spring of 2020, when the Covid pandemic broke out.

Among businesses there are more pessimistic than optimistic ones, for the second month in a row now. Willingness to employ continued to decrease in the business sector in September, but still there are a little more firms that plan to recruit new workers than those who want to make workers redundant. GKI’s consumer confidence index has dropped significantly since April, going down more than 30 points. The last time Hungarians were this pessimistic was 10 years ago. In September people felt their financial situation to be worse than it had been in August. //