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.