Hungary Economic Sentiment September 2016

Hungary

Hungary: Economic sentiment improves slightly in September

The GKI economic sentiment indicator advanced slightly from August’s minus 3.9 points, which was the lowest reading in over two years, to the still-low level of minus 3.6 points in September. The small increase was driven by improvements in business confidence and, to a lesser extent, consumer sentiment.

Business sentiment recorded 1.7 points in September, coming in above August’s 1.2 points, which had represented the lowest level since November 2013. Sector-wise, sentiment strengthened notably in the construction sector and slightly in the trade sector. Confidence in the services sector was unchanged while confidence in the industrial sector continued to deteriorate. Meanwhile, consumer confidence increased marginally from August’s minus 18.6 points to minus 18.5 points in September. The print was virtually stable since households’ rising optimism about their financial positions and their ability to purchase large-ticket items was broadly offset by their growing pessimism about their saving capacity.

FocusEconomics panelists expect private consumption to expand 3.9% in 2016, which is up 0.2 percentage points from last month’s projection. For 2017, the panel expects private consumption to grow 3.3%.Panelists expect fixed investment to decrease 5.5% in 2016, which is down 1.8 percentage points from last month’s estimate. In 2017, the panel sees investment expanding 3.8%.


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