Companies said their capacities were better utilised, but their competitive position was deteriorating and the main impediment to their growth was the lack of a qualified workforce.

Construction companies were more pessimistic in terms of order stock as prospects for both building construction and civil engineering companies worsened slightly.

Companies in commerce were more negative concerning both their sales position and their prospective orders, while reporting slightly lower inventory levels.

Companies in the service sector were more optimistic, giving positive views of business in general, turnover in the previous period and prospective sales.

The consumer confidence index rose to -16.1 points in July from -19.2 points in June.

Households’ expectations improved concerning their financial positions, their ability to make savings as well as their chances to make big-ticket purchases in the coming twelve months.

The seasonally-adjusted GKI index is supported with European Union funding.

Republished with permission of Hungary Matters, MTI’s daily newsletter.