In March, the economic sentiment index produced by the Hungarian Economic Research Institute (GKI, Magyar Gazdasagkutato Intezet) dropped markedly to minus 10.7 points, well below the minus 5.1 points tallied in February. The deterioration reflected a weaker assessment of future conditions by both consumers and businesses. In particular, consumer confidence dropped almost ten full points to minus 37.3 points, which represented the lowest level in over a year. GKI stated that the decline was fuelled by weaker prospects about households' own financial situation over the next year as well as a more downbeat assessment of their expected savings capacity. Meanwhile, business sentiment declined for the first time since September 2010, falling from plus 2.9 points to minus 1.3 points. According to GKI, the decline was broad-based, but mostly led by the construction as well as wholesale and retail trade sectors. Confidence in the industrial sector dropped only modestly, supported by strong demand abroad.
Hungary Economic Sentiment
Economic sentiment drops in March
March 23, 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.