Hungary: Economic sentiment bounces back from two-year low in May
The GKI economic sentiment index, a composite indicator, rose for the first time in five months in May, edging up to 4.3 points from 2.9 points in April. May’s upturn reflected an improvement in business confidence, which more than offset a deterioration in consumer confidence.
Business confidence rose amid improved short-term expectations in the industrial, trade and services sectors, with the index climbing to 9.4 points from 7.1 points in April. Sentiment in the construction sector was essentially stable from April, however.
Meanwhile, consumer confidence dipped in May, with the index falling to minus 10.4 points from minus 8.9 points in April. May’s downtick reflected households’ less favorable assessment of their ability to save, although they were more upbeat on their financial situation.