In February, GKI’s economic sentiment index stayed virtually at its January level, that is, at its 40-month low. Business expectations deteriorated slightly, whereas consumer ones im-proved somewhat. The business confidence index has been on a downward trend for one and a half years. The consumer confidence index was fluctuating and stagnating during this period of time. Although this year it was in the lower zone of the narrow band characteris-tic of the past two years, it still reflects strong optimism.