In December, GKI’s economic sentiment index was slightly lower than in October, which had been the lowest level until then this year, thus falling to its three-year nadir. According to the empirical survey conducted by GKI (www.gki.hu) with the support of the EU, this was the re-sult of marked deterioration in business expectations as consumer expectations improved slightly. The trend was clearly deteriorating in business expectations in 2019, whereas that of consumer expectations was typically stagnant, with some monthly fluctuations.