Hungarian Parliament building

Hungary Economic Sentiment May 2021

Hungary: Economic sentiment at pre-crisis level in May

The GKI economic sentiment index, a composite indicator, jumped to minus 2.6 in May from minus 6.8 in April, the best result since February 2020. May’s result was driven by stronger business and consumer confidence.

Business confidence increased to 2.9 in May from minus 0.6 in April, marking the strongest reading since November 2019. The print reflected stronger sentiment in the industrial, construction, services and trade sectors.

Meanwhile, consumer confidence rose to a 14-month high of minus 18.3 in May from minus 24.5 in the previous month due to households’ improved assessments of their own financial situation as well as stronger willingness to buy high-value durables.

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