Hungary Economic Outlook
November 28, 2017Preliminary data showed that the economy picked up steam in Q3. Annual GDP growth accelerated from 3.3% in Q2 to 3.6%. While a breakdown by components is not yet available, the acceleration was most likely buttressed by the domestic economy. Consumer and business confidence readings throughout the third quarter were extremely elevated due to the rapid rise in disposable incomes, declining unemployment, loose monetary conditions and inflows of EU investment funds. The far-reaching fiscal stimulus measures implemented by the government, together with the resilience of the economic drivers, should guarantee that the momentum in growth will carry through the final quarter of the year. Noting these developments, Fitch Ratings revised Hungary’s outlook from stable to positive and affirmed its credit rating at BBB- on 10 November. The agency pointed out that Hungary’s vast current account surplus and declining external debt have reduced its exposure to external shocks.
Hungary Economic GrowthEconomic growth is set to moderate in the next two years but should nevertheless remain strong on the back of expansionary monetary and fiscal policies. FocusEconomics panelists project the economy will expand 3.4% in 2018, which is unchanged from last month’s forecast. For 2019, they pencil in growth of 2.8%.
Hungary Economy Data
5 years of Hungary economic forecasts for more than 30 economic indicators.
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|Bond Yield||2.16||0.0 %||Dec 06|
|Exchange Rate||266.5||-0.68 %||Dec 06|
|Stock Market||37,592||0.04 %||Dec 06|
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Hungary Economic News
December 11, 2017
The economy continues to grow at a solid pace.
November 15, 2017
The Hungarian economy picked up steam in the third quarter.
November 9, 2017
Consumer prices rose 0.3% month-on-month in October, coming in above the 0.1% increase observed in September.
November 8, 2017
According to revised data released by the Statistical Institute (KSH) on 13 November, industrial output rose a working-day adjusted 8.1% year-on-year in September, marking an acceleration from August’s 6.8% increase.
September 27, 2017
At its 26 September monetary policy meeting, the Monetary Council of the Hungarian National Bank (MNB) kept the base rate unchanged at its current record low of 0.90%, as expected by market analysts.