Hungary Economic Sentiment

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Hungary: Economic sentiment continues upward trajectory; business confidence reaches multi-year high

October 27, 2014

In October, the GKI-Erste economic sentiment index improved for a second consecutive month as it rose from the minus 2.3 points recorded in September to plus 1.2 points, the highest reading in half a year. According to the GKI economic research institute, economic sentiment, “almost reached its fifteen-year peak value measured in April this year.”

Consumer sentiment rose from minus 19.1 points in September to minus 17.6 points in October. According to GKI, “[b]oth the assessment of consumers’ own financial position and the prospects of their saving capacity turned better for the next 12 months compared with the previous one. Households considered the possibility of purchasing high-value durables somewhat better.”

Business sentiment increased from 3.6 points in September to 7.8 points in October; businesses most recently were that confident in 1998. According to GKI, the reading resulted from an improvement in expectations of all sectors except trade.

FocusEconomics panelists expect total consumption to expand 2.1% in 2014, which is unchanged from last month’s projection. For 2015, the panel expects total consumption to increase at a 2.2% expansion, which is unchanged from last month’s estimate. Panelists expect fixed investment to increase 10.0% in 2014, which is up 0.1 percentage points over last month’s estimate. In 2015, the panel sees investment expanding 2.6%, which is also up 0.1 percentage points from last month’s projection.


Author: Teresa Kersting, Economist

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Hungary Economic Sentiment October 2014

Note: Consumer confidence, business confidence and economic sentiment indicators.
Source: GKI Economic Research Co.


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