In February, the economic sentiment index produced by the Hungarian Economic Research Institute (GKI, Magyar Gazdasagkutato Intezet) stepped up 1.2 points to minus 5.1 points, reaching its highest level since April 2006. The improvement was entirely driven by stronger businesses confidence, as external demand recovers amid strengthening growth in Western Europe. In contrast, consumer sentiment decreased for the fourth month in a row in February. Business sentiment rose from plus 0.5 points in January to plus 2.9 points, which represented the highest reading in almost a decade. According to GKI, expectations were higher in all sectors compared to January, with the exception of wholesale and retail trade. In the industrial sector, the rise was fuelled by a rise in production expectations and stock of orders, in particular for exports. Meanwhile, consumer confidence dropped to minus 27.7 points, mostly reflecting increasing pessimism regarding prospects for the Hungarian economy and respondents' current financial situation. Nevertheless, GKI pointed out that fears of unemployment decreased in February.
Hungary Economic Sentiment
Business confidence rises to highest level in nearly a decade
February 21, 2011
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Hungary Economic News
October 11, 2016
In September, consumer prices rose 0.2% from the previous month, contrasting August’s 0.4% decrease.
October 7, 2016
According to preliminary data released by the Statistical Institute (KSH) on 7 October, industrial output in August rose a working-day adjusted 3.5% from the same month last year, rebounding from July’s 0.1% decrease and marking a four-month high. On a monthly basis, industrial production increased a seasonally- and working-day adjusted 1.6% in August, which followed July’s 0.3% decrease.
September 26, 2016
The GKI economic sentiment indicator advanced slightly from August’s minus 3.9 points, which was the lowest reading in over two years, to the still-low level of minus 3.6 points in September.
Hungary: Central Bank leaves base rate at 0.90%, continues easing monetary conditions by capping main deposit facility
September 20, 2016
The Central Bank of Hungary (NBH) held all rates constant at its 20 September monetary policy meeting, but continued easing monetary policy conditions by using unconventional monetary policy instruments.
September 9, 2016
In August, consumer prices fell 0.4% over the previous month, coming in below July’s softer 0.2% decrease.