Hungary's GKI economic confidence slightly improves in June 2012.

By bne IntelliNews June 22, 2012
Hungary's combined index of business and consumer confidence saw only marginal improvement in June 2012, as it picked up by 0.4pps to minus 24.5points, Hungarian economic research company GKI said. It prepares the index in partnership with Erste Bank. The index dropped sharply by 5.6pps m/m in May. The improvement in June was due to improved confidence among consumers, while confidence in the business sector deteriorated further in the month. The consumer confidence index rose to minus 52.6 in June from minus 55.9 in May. Households were more optimistic regarding their financial situation and saving capacity in the next twelve months. The business confidence index declined to minus 14.6 points in June from minus 14 points in May, as a result of weaker confidence in the industry and service sectors. By contrast, the assessment in the construction and trade sectors improved in June compared to May.

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