Hungary Economic Sentiment December 2021

Hungary

Hungary: Economic sentiment declines in December amid falling business confidence

January 3, 2022

The GKI economic sentiment index, a composite indicator, dropped to minus 1.8 in December from plus 0.2 in November. December’s result was driven by falling business confidence.

Business confidence decreased to 4.4 in December from 9.1 in November, when it marked the strongest reading since May 2019. The print reflected decreases in sentiment in the construction, industrial, services and trade sectors.

Meanwhile, consumer confidence rose to minus 19.4 in December from minus 25.1 in November due to households’ improved assessments regarding their own financial situation and the willingness to buy high-value consumer goods.

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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Hungary Economic Sentiment December 2021

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


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