Economic Assessments are Becoming More Optimistic

The index of current assessments of the overall economy rose in October (+3.0 points) and stood at 1.5 points above the zero line, which separates positive from negative assessments. In the production of goods, the situation index improved by 3.3 points, but remained in the below-average range at –2.9 points. In the construction sector, too, the situation index rose (+2.9 points) and stood 5.5 points above the zero line. In the services sector, the situation index improved by 3.1 points and, at 3.4 points, was once again in positive territory. The retail sector also saw a positive trend in the business climate index (+1.9 points), which stood at 0.8 points, just above the zero line once again.

The business expectations index for the economy as a whole also rose in October (+1.7 points) and stood at 0.2 points, just above the zero line that separates negative from positive economic expectations. In the retail sector, the expectations index fell (–1.1 points) and stood at –12.2 points, indicating sceptical economic expectations. In the services sector, by contrast, the expectations index improved (+1.8 points) and stood at –0.1 points, on the zero line. In the construction sector, the index showed a slight rise (+0.5 points), standing at 10.7 points, although expectations regarding construction activity in the coming months remained cautious. In the manufacturing sector, the expectations index rose in October (+3.0 points) and, at 1.7 points, stood above the zero line for the first time since April 2023, entering the range of optimistic economic expectations.