Hungary Economic Sentiment August 2016


Economic sentiment lowest in two years

The GKI-Erste economic sentiment indicator fell to the lowest level in two years in August, declining from July’s 0.0 points to minus 3.9 points. The result was driven by setbacks in both business and consumer sentiment.

Business sentiment tallied 1.2 points in August, coming in below July’s 5.6 reading and marking the lowest print since November 2013. According to GKI, sentiment fell across all sectors surveyed: industry, construction, trade and services. Meanwhile, consumer confidence decreased from July’s minus 16.1 points to minus 18.6 points in August.

FocusEconomics panelists expect private consumption to expand 3.7% in 2016, which is unchanged from last month’s projection. For 2017, the panel expects private consumption to grow 3.2%.Panelists expect fixed investment to decrease 3.3% in 2016, which is unchanged over last month’s estimate. In 2017, the panel sees investment expanding 3.7%.

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Hungary Economic Sentiment Chart

Hungary Economic Sentiment August 2016 1

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

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