In March, the GKI-Erste economic sentiment index rose to minus 0.7 points, which was up from the minus 2.1 points recorded in February. The figure marked the highest level since August 2002. According to the GKI economic research institute, the improvement resulted from an increase in consumer confidence. Consumer sentiment improved from minus 22.0 points in February to minus 15.9 points in March and reached an eight-year high. Consumers' prospects regarding savings capacity, their personal finances and the possibility to purchase large-ticket durables improved over the previous month. FocusEconomics panelists expect total consumption to expand 1.4% in 2014, which is up 0.1 percentage points from last month's projection. For 2015, the panel expects total consumption to increase to a 1.6% expansion. Business sentiment, however, inched down from 4.9 points in February to 4.7 points in March. According to GKI, “expectations of industrial companies deteriorated slightly, those of trading and service firms improved somewhat, whereas the expectations of construction companies remained unchanged.” Panelists expect fixed investment to increase 4.1% in 2014, which is up 0.5 percentage points over last month's estimate. For 2015, the panel sees investment expanding 2.9%.
Hungary Economic Sentiment
Economic sentiment reaches 12-year high
March 25, 2014
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Hungary Economic Sentiment Chart
Note: Consumer confidence, business confidence and economic sentiment indicators.
Source: GKI Economic Research Co.
Hungary Economic News
October 11, 2016
In September, consumer prices rose 0.2% from the previous month, contrasting August’s 0.4% decrease.
October 7, 2016
According to preliminary data released by the Statistical Institute (KSH) on 7 October, industrial output in August rose a working-day adjusted 3.5% from the same month last year, rebounding from July’s 0.1% decrease and marking a four-month high. On a monthly basis, industrial production increased a seasonally- and working-day adjusted 1.6% in August, which followed July’s 0.3% decrease.
September 26, 2016
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.
Hungary: Central Bank leaves base rate at 0.90%, continues easing monetary conditions by capping main deposit facility
September 20, 2016
The Central Bank of Hungary (NBH) held all rates constant at its 20 September monetary policy meeting, but continued easing monetary policy conditions by using unconventional monetary policy instruments.
September 9, 2016
In August, consumer prices fell 0.4% over the previous month, coming in below July’s softer 0.2% decrease.