Hungary: Economic sentiment falls in June
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.