Hungary Economic Outlook
September 3, 2019A second estimate confirmed the economy lost some traction in the second quarter amid a challenging external environment. Growth, in annual terms, fell to a one-year low in Q2 on faltering domestic demand and a slump in the external sector, reflecting a sharp deceleration in exports; that said, the expansion was still relatively robust. At the same time, signs of overheating continued to emerge, with labor shortages intensifying despite higher participation rates as the unemployment rate slid further in the quarter. Turning to the third quarter, business sentiment deteriorated again in July although a notable bounce-back in August signaled brighter prospects for fixed investment. Moreover, slightly less downbeat consumer confidence and still elevated wage growth in the same two months should encourage greater household spending, as suggested by robust retail sales in July.
Hungary Economic GrowthGrowth is seen decelerating this year on weaker domestic demand as the absorption of EU funds tapers off. Nevertheless, the expansion should remain robust thanks to a rebound in government spending; a pick-up in export growth; and solid private consumption, sustained by a tight labor market. FocusEconomics analysts see growth at 4.3% in 2019, which is up 0.1 percentage points from last month’s forecast, and at 2.9% in 2020.
Hungary Economy Data
5 years of Hungary economic forecasts for more than 30 economic indicators.
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|Bond Yield||2.03||0.0 %||Sep 04|
|Exchange Rate||298.6||-0.68 %||Sep 04|
|Stock Market||39,753||0.04 %||Sep 04|
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Hungary Economic News
September 12, 2019
Industrial production rose a working-day-adjusted 8.7% year-on-year in July, which marked an acceleration from June’s 4.1% upturn and the fastest expansion since March 2017, according to the second estimate released by the Hungarian Central Statistical Office.
September 10, 2019
Consumer prices fell 0.1% over the previous month in August, contrasting a 0.2% month-on-month upturn in July.
September 6, 2019
Industrial production jumped a working-day-adjusted 8.7% year-on-year in July, which marked an acceleration from June’s 4.1% upturn and the fastest expansion since March 2017, according to a first estimate released by the Hungarian Central Statistical Office.
August 30, 2019
A second GDP release published by Hungary’s Statistical Office on 30 August confirmed that growth, in annual terms, slid to 4.9% in Q2 from 5.3% in the first quarter.
August 27, 2019
On 27 August, the Monetary Council of the Hungarian National Bank (MNB) held the base rate at a record low of 0.90% and kept steady all other existing instruments.