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.