Economic research company GKI’s combined business and consumer confidence index rose to -25.4 points in December from -27.5 points in November, rising to a level last reached in October 2008, the first month after the start of the crisis.
The seasonally-adjusted index, compiled with European Union support, stood at about -25 points in October 2008. It bottomed out at a historical low of about -46 points in March 2009.
The business confidence index rose to -16.7 points in December from -18.9 points in November.
Expectations in all segments but services improved in December. Industrial companies reported better outlooks for production and stock of orders in the coming months, although they said stock levels of their own products were high.
The construction sector sub-index rose a bit after stagnating for two months. The outlook for output in the coming months improved noticeably, but that for stock of orders improved just a bit.
Confidence among trade companies continued to improve in December after declining in November. Assessments of market position, stock levels and orders were all better.
Service companies’ confidence index fell in December as it did in November, following increases between July and October.
Industrial companies expect to keep prices unchanged or raise them slightly in the coming three months after lowering them in past months. Construction companies plan to continue to lower prices. Service companies plan to raise prices, although by less than the usual year-end increase. Trade companies plan no price increases.
The consumer confidence index improved to -50.1 points from -51.9.
Households’ outlook for inflation, unemployment and the position of the country improved, but expectations about their financial situations were little changed. Fewer said they could make savings or planned purchases of big consumer durables.