Hungary Economic Sentiment October 2016


Hungary: Economic sentiment deteriorates in October

October 24, 2016

The GKI economic sentiment indicator edged down from minus 3.6 points in September to minus 4.5 points in October. October’s print marks the worst reading in nearly three years and reflects a deterioration in business and consumer confidence in Hungary.

Business sentiment dropped from 1.7 points in September to 1.0 points in October, which marks the lowest level since November 2013. Sentiment deteriorated across the board except for companies in the trade industry.

Consumer confidence deteriorated from September’s minus 18.5 points to minus 20.3 points in October. The drop reflected household’s growing pessimism about their financial situation, savings capacity and ability to purchase large ticket items in the next year.

FocusEconomics panelists expect private consumption to expand 4.1% in 2016, which is up 0.1 percentage points from last month’s projection. For 2017, the panel expects private consumption to grow 3.4%, which is up 0.1 percentage points from last month’s projection.Panelists expect fixed investment to decrease 6.3% in 2016, which is down 0.2 percentage points from last month’s estimate. In 2017, the panel sees investment expanding 4.5%, which is up 0.6 percentage poins from last month’s forecast.

Author: Jean-Philippe Pourcelot, Economist

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Hungary Economic Sentiment Chart

Hungary Economic Sentiment October 2016

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

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