Hungary Economic Sentiment


Economic sentiment improves in September

The GKI-Erste economic sentiment advanced slightly from August’s minus 2.1 points to minus 1.8 points in September, which marked a second month of rising sentiment. In addition, September’s result represented the highest reading so far this year.

Consumer sentiment deteriorated from minus 22.7 points in August to minus 28.3 points in September. According to GKI, “both the assessment of consumers’ own financial position and the prospects of their saving capacity turned worse for the next 12 months compared with the previous one. Households considered the possibility of purchasing high-value durables somewhat worse as well.”

Conversely, business sentiment improved, rising from August´s 5.2 points to 7.5 points in September. According to GKI, the result reflects that improving confidence among construction companies and in the industry and service sectors more than offset falling sentiment in the trade sector. Regarding expectations on the general economic conditions, GKI-Erste added that, “the evaluation of the prospects of the Hungarian economy deteriorated significantly in all sectors (except construction) and among consumers as well. However, pessimists were in the majority in construction, too.”

FocusEconomics panelists expect total consumption to expand 2.8% in 2015, which is unchanged from last month’s projection. For 2016, the panel expects total consumption to grow 2.5%.Panelists expect fixed investment to increase 1.3% in 2015, which is down 0.8 percentage points over last month’s estimate. In 2016, the panel sees investment expanding 0.6%.

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Hungary Economic Sentiment Chart

Hungary Economic Sentiment September 2015

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

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