Hungary Economic Outlook
May 7, 2019
Despite upbeat first-quarter indicators, analysts expect last year’s growth spurt to be petering out amid a more challenging external-sector backdrop. Domestic demand still looks to be in the driver’s seat. Both the labor market and consumer confidence have notched gains in recent months, while industrial-sector capacity constraints and the ongoing construction boom have likely buoyed fixed investment. Some cracks have begun to appear, however. Business confidence plunged to a two-year low in April and, more broadly, higher inflation since the outset of the year is expected to take its toll. In early May, all eyes were on Moody’s in the run-up to its credit-rating call—now postponed. Ahead of any announcement, strong fundamentals and well-managed public finances bode well for an upgrade to its Baa3 credit rating—although analysts remain split on the matter.Hungary Economic Growth
Household spending and fixed investment should get reined in this year by slower employment growth and the narrower intake of EU-linked structural funds, respectively. Higher inflation is only expected to compound matters, while short-term growth prospects for the European Union remain a downside risk for the economy. FocusEconomics analysts expect growth of 3.6% in 2019, which is up 0.1 percentage points from last month’s forecast, and 2.7% in 2020.Hungary Economy Data
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Hungary Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 3.33 | 0.0 % | May 13 |
| Exchange Rate | 288.7 | -0.68 % | May 13 |
| Stock Market | 40,538 | 0.04 % | May 13 |
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Hungary Economic News
Hungary: Growth hits 14-year high in Q1
May 15, 2019
The Hungarian economy continued to fire on all cylinders in the first quarter.
Hungary: Industrial output growth at over one-year high in March
May 14, 2019
Industrial output increased a working-day-adjusted 8.0% year-on-year in March, outpacing a 6.0% increase in February and marking the strongest result since October 2017.
Hungary: Economic sentiment approaches two-year low in April
May 6, 2019
The GKI economic sentiment index, a composite indicator, plummeted to a 23-month low 2.9 points in April from 6.2 points in March.
Hungary: MNB holds steady in April
April 30, 2019
On 30 April, the Monetary Council of the Hungarian National Bank (MNB) left the base rate at its current record low of 0.90%, and held steady all other existing instruments.
Hungary: Industrial output growth ticks up in February
April 15, 2019
Industrial output increased a working-day-adjusted 5.9% year-on-year in February, outpacing a 5.0% increase in January.
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