Business and consumer confidence continued to decline in April as concerns over the economic impact of the war and related sanctions weighed, gauges of sentiment by economic researcher Századvég show.
Századvég’s business confidence index fell to -6.8 in April from 5.1 in the previous month. The measure of businesses’ assessment of the production environment rose to -3.0 from -4.5, but the gauge of the sectoral environment dropped to 0.4 from 6.4. The sub-index for the business environment fell to -8.9 from -2.3, and the one for the economic environment slipped to -20.2 from -14.0.
The share of companies that believe the country’s economic situation has “deteriorated significantly” in the past year rose to 25.5% from 21.9%, while the share who said it “deteriorated a little” increased to 28.2% from 23.5%. The percentage of businesses who said the economic situation improved “a lot” fell to 8.1% from 11.9% and the share who said it improved “a bit” dropped to 19.8% from 22.5%.
Századvég’s consumer confidence index declined to -7.5 in April from -4.8 in March. The gauge of employment fell to 9.7 from 10.6, while the one assessing inflation dropped to -76.3 from -70.4. The measure of households’ own material situation slipped to -5.9 from -2.8, while that of the economy as a whole dropped to -12.3 from -8.8.
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