In September, the economic index of the GKI decreased slightly

By: Trademagazin Date: 2023. 09. 24. 23:59

With the arrival of autumn, the population and businesses also became a little grumpier. According to a survey conducted by the GKI Gazdaságkutató – with the support of the EU – consumer and business expectations deteriorated somewhat in September, the GKI economic index decreased by a narrow 2 points compared to August. In the first autumn month, the companies’ relatively favorable employment expectations did not change substantially compared to August, but the intentions to raise prices slightly strengthened.

The GKI business confidence index – after a two-month increase – decreased modestly in September. In the first autumn month, industry and construction sector outlooks worsened, while trade and services did not change significantly. Among the factors that make up the confidence index in industry, the assessment of self-produced stocks practically did not change, the expected production in the next 3 months is lower, and the assessment of the entire order book deteriorated to a greater extent compared to August. In the construction industry, the assessment of the order book worsened significantly, while the employment expectation only deteriorated within a margin of error. In trade, the assessment of the level of stocks deteriorated significantly, the assessment of the business performance of the previous 3 months improved slightly, and the assessment of orders expected in the next 3 months hardly changed. In the service sector, the assessment of the business performance of the previous three months improved slightly, and the turnover expectation somewhat more markedly compared to August.

The mood of the population improved continuously during the summer months, but the arrival of autumn brought some stagnation: the GKI consumer confidence index – from the 16-month record level in August – decreased by 3 points in September. In the ninth month, all of the four sub-indicators that make up the consumer confidence index deteriorated. The population assesses the development of their own financial situation for the past 12 months as deteriorating compared to the previous month, and they have a similar opinion about the same for the next 12 months. The public’s perception of the amount of money they can spend on high-value consumer goods also deteriorated slightly for the next 12 months.