In September, the GKI-Erste economic sentiment index recorded its fifth consecutive monthly decline, dropping two full points to minus 20.9. The deterioration was almost entirely the result of dwindling consumer confidence, whereas business confidence remained virtually unchanged from August. Consumer sentiment plunged further from minus 40.7 points in August to minus 47.2 points in September, which represents its lowest level since February 2010. According to GKI, the decline was the result of households assessing their financial situation and saving capability worse than in August, while their willingness to make major purchases improved only slightly. Meanwhile, business confidence dropped 0.4 points to minus 11.7 points, which also represents its lowest level since February 2010. The drop reflected further deterioration in the construction sector, which according to GKI was already extremely low. In contrast, expectations in the industrial and commercial sectors increased slightly.
Hungary Economic Sentiment
Consumer confidence plunges further
September 22, 2011
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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.