Hungary: Economic sentiment falls to over one-year low in July
The GKI economic sentiment index, a composite indicator, fell to minus 9.4 in July from minus 7.5 in June. July’s result was the lowest reading in 16 months and was driven by worsening business and consumer sentiment.
Business confidence decreased to 2.0 in July from 3.7 in June. The print reflected a decline in sentiment in the industrial sector.
Meanwhile, consumer sentiment tanked to minus 41.7 in July from minus 39.4 in June due to households’ deteriorated assessments regarding their own financial situation, their savings capacity and their current possibility of purchasing big-ticket items.