Hungary Economic Sentiment September 2021

Hungary

Hungary: Economic sentiment inches up in September amid higher business confidence

September 28, 2021

The GKI economic sentiment index, a composite indicator, edged up to minus 0.5 in September from minus 0.6 in August, the best result since November 2019. September’s result was again driven by stronger business confidence more than outweighing softer consumer sentiment.

Business confidence increased to 6.5 in September from 6.1 in August, marking the strongest reading since November 2019. The print reflected an increase in sentiment in the services, trade and constructions sectors more than offsetting weaker confidence in the industrial sector.

Meanwhile, consumer confidence fell to minus 20.3 in September from minus 19.7 in August due to households’ worsened assessments regarding the future of the Hungarian economy.

FocusEconomics panelists forecast fixed investment to expand 5.4% in 2021, which is unchanged from last month’s projection. For 2022, the panel sees fixed investment growing 6.2%, which is unchanged from last month’s forecast. FocusEconomics panelists project private consumption to increase 4.2% in 2021, which is unchanged from last month’s projection. For 2022, panelists see private consumption expanding 3.9%, which is unchanged from last month’s forecast.


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