Hungary Economic Sentiment July 2016


Economic sentiment improves in July

The GKI-Erste economic sentiment indicator rose in July, increasing from minus 3.7 points in June to 0.0 points. The result was driven by improvements in both business and consumer sentiment.

Business sentiment tallied 5.6 points in July, coming in above June’s 1.7 reading, which had marked the lowest print in nearly two years. According to GKI, in July, sentiment rose in the industrial and services sectors, while it fell among the commercial and construction sectors.

Meanwhile, consumer confidence advanced from June’s minus 19.2 points to an over-two-year high of minus 16.1 points in July. According to GKI, the increase was driven by consumers becoming more optimistic about their savings capacity, their own financial situation in the next year and their ability to buy big-ticket items.

FocusEconomics panelists expect total consumption to expand 2.8% in 2016, which is unchanged from last month’s projection. For 2017, the panel expects total consumption to grow 2.6%.Panelists expect fixed investment to decrease 0.9% in 2016, which is unchanged over last month’s estimate. In 2017, the panel sees investment expanding 3.3%.

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Hungary Economic Sentiment Chart

Hungary Economic Sentiment July 2016 0

Note: Consumer confidence, business confidence and economic sentiment indicators.
Source: GKI Economic Research Co.

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