GKI’s economic sentiment index fell in March to its late spring 2021 level, mainly as a re-sult of a deterioration in the consumer confidence index. According to the empirical sur-vey conducted by GKI (www.gki.hu) with the support of the EU, business expectations worsened only in industry and services, but not in construction and trade. Across all sec-tors, the perception of the Hungarian economy became dramatically more pessimistic, as it was when the Covid pandemic broke out, but companies barely perceive this in their own situation.