Hungary Economic Sentiment September 2022

Hungary

Hungary: Economic sentiment broadly stable in September

September 28, 2022

The GKI economic sentiment index, a composite indicator, fell to minus 14.5 in September from minus 14.3 in August. September’s result was the lowest reading in 17 months and was driven by worsening consumer sentiment more than offsetting less downbeat business sentiment.

Consumer sentiment fell to minus 52.6 in September from minus 49.2 in August due to households’ deteriorated assessments regarding their own financial situation, their savings capacity and their future possibility of purchasing big-ticket items.

Meanwhile, business confidence increased to minus 1.1 in September from minus 2.1 in August. The print reflected an increase in sentiment in the industrial, trade and services sectors.

FocusEconomics panelists forecast fixed investment to expand 7.2% in 2022, which is unchanged from last month’s projection. For 2023, the panel sees fixed investment growing 5.8%. Panelists project private consumption to increase 4.8% in 2022, which is unchanged from last month’s projection. For 2023, panelists see private consumption expanding 3.7%.


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