Hungary Economic Sentiment May 2016


Economic sentiment improves somewhat in May

The GKI-Erste economic sentiment improved in May, advancing from minus 3.9 points in April, which had marked the lowest print since August 2014, to minus 3.2 points. Moreover, May’s reading represents the first rise after three months of falling sentiment. The increase was driven by improvements in consumer confidence and, albeit to a lesser extent, business sentiment.

Business sentiment tallied 2.3 points in May, coming in slightly above April’s 2.2. According to GKI, in May, sentiment improved in the business and trade sectors. Conversely, sentiment among the industrial and the construction sectors fell.

Meanwhile, consumer confidence rose from April’s minus 21.1 points to minus 18.9 points in May. According to GKI, the improvement was driven by the fact that consumers were more positive about their financial situation for this year, their savings capacity as well as their ability to purchase large-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 fixed investment expanding 3.3%.

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Hungary Economic Sentiment Chart

Hungary Economic Sentiment May 2016

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

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