Hungary Economic Sentiment June 2022

Hungary

Hungary: Economic sentiment falls in June

June 27, 2022

The GKI economic sentiment index, a composite indicator, fell to minus 7.5 in June from minus 2.6 in May. June’s result was the lowest reading in 15 months and was driven by worsening business and consumer sentiment.

Business confidence decreased to 3.7 in June from 6.9 in May. The print reflected declines in sentiment in the industrial, construction, trade and services sectors.

Meanwhile, consumer sentiment tanked to minus 39.4 in June from minus 29.5 in May due to households’ deteriorated assessments regarding their own financial situation, their savings capacity and their current possibility of purchasing big-ticket items.

FocusEconomics panelists forecast fixed investment to expand 7.2% in 2022, which is unchanged from last month’s projection. For 2023, the panel sees fixed investment growing 5.8%. Panelists project private consumption to increase 4.8% in 2022, which is unchanged from last month’s projection. For 2023, panelists see private consumption expanding 3.7%.


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