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BUSINESS, CONSUMER CONFIDENCE IMPROVES IN AUG

 

GKI’s combined gauge of consumer and business confidence rose to 4.0 points in August from 0.6 in the previous month as sentiment of both companies and households improved. GKI noted that the index had reached its lowest point in almost two-and-a-half years in July. The business confidence index rose to 7.5 points in August from 4.3 in July.
Industrial companies’ assessment of output, order stock and inventories improved, but their outlook worsened. Confidence in the construction sector reached a nearly two-year low on a worsening assessment of order stock. In the commerce sector, sentiment continued to worsen as assessments of sales positions and inventories deteriorated. Service sector companies’ outlook improved markedly.
The consumer confidence index rose to -5.9 points in August from -10.1 in the previous month. Households were more optimistic about their financial positions, their ability to make savings and their chances to make big-ticket purchases. GKI compiles the index with the support of European Union funding.