Hungary Economic Outlook
March 6, 2018The Hungarian economy shifted into a higher gear in the fourth quarter, expanding at the fastest pace since 2014. While a breakdown by components is not yet available, the acceleration was likely driven by buoyant domestic demand, as the resumption of inflows of EU investment funds and favorable financial conditions lifted business confidence and spurred strong growth in key sectors such as construction. Unemployment that was at a multi-year low, coupled with high consumer confidence and wage hikes, boosted retail sales in Q4, which expanded at the fastest pace in six quarters. More recent data suggests that momentum likely carried over into 2018. In February, economic sentiment hit a new all-time high thanks to a jump in business and consumer confidence. On the political scene, the ruling Fidesz party suffered an unexpected defeat in a local by-election on 25 February. The defeat, which occurred in a regional stronghold, hints that the party’s expected lead in the upcoming general election on 8 April will be narrower than initially anticipated.
Hungary Economic GrowthA solid domestic economy and a pick-up in external demand should support robust growth this year. FocusEconomics panelists project the economy will expand 3.6% in 2018, which is unchanged from last month’s forecast. For 2019, the panel sees growth moderating to 3.0%.
Hungary Economy Data
5 years of Hungary economic forecasts for more than 30 economic indicators.
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|Bond Yield||2.73||0.0 %||Mar 14|
|Exchange Rate||253.0||-0.68 %||Mar 15|
|Stock Market||38,891||0.04 %||Mar 14|
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Hungary Economic News
March 8, 2018
Consumer prices rose 0.2% month-on-month in February, coming in below the 0.3% reading observed in January.
March 7, 2018
According to a second estimate released by the Central Statistics Office (KSH) on 6 March, the Hungarian economy picked up steam in Q4, as GDP expanded 4.4% annually in the quarter, matching the preliminary estimate released a month earlier.
March 2, 2018
Citizens are headed to the polls on 8 April for a general election that will see the ruling Fidesz party and controversial Prime Minister Viktor Orbán put to test.
February 26, 2018
The GKI economic sentiment index climbed for the fourth consecutive month from 8.2 points in January, a previous record, to 9.5 points in February—a new all-time high.
February 14, 2018
The Hungarian economy shifted into a higher gear in the final quarter of the year.