Business, Consumer Confidence Ease in August

Business and consumer sentiment in Hungary eased in August, a monthly gauge by economic research institute GKI shows.

GKI's business confidence index fell to -9.1 points in August from -5.3 in the previous month. Sentiment worsened in the industrial, commerce and construction sectors, but edged up in the business services sector.

The survey showed 7% of companies plan to make new hires in the coming three months and 13% expect to reduce headcount.

GKI's consumer confidence index fell to -3.7 points from +1.6. Households' assessment of the economic situation for the country as a whole worsened the most, by 9 points. The gauge of households' intentions to make big-ticket purchases showed a more modest, 2-point decline.

GKI's combined gauge of business and consumer confidence slipped to -7.7 points in August from -3.5 in the previous month.