Hungary Economic Sentiment July 2019

Hungary

Hungary: Economic sentiment deteriorates to 27-month low in July

July 21, 2019

The GKI economic sentiment index, a composite indicator, tumbled for the second consecutive month to 0.6 points in July from 2.4 points in June. The reading was the lowest since April 2017 and was underpinned by a deterioration in both business sentiment and consumer confidence.

Business confidence slid for the seventh consecutive month, dropping to 4.3 points from 5.7 points. Less upbeat expectations in the industrial, trade and services sectors drove the downturn, while sentiment in the construction sector remained stable.

Meanwhile, consumer confidence fell to minus 10.1 points in July from minus 7.0 points in June. Consumers’ less favorable assessments on their personal finances, savings ability and the capacity to purchase high-value durables were behind the drop.

FocusEconomics panelists expect fixed investment to grow 12.2% in 2019, which is up 2.5 percentage points from last month’s projection. For 2020, the panel sees fixed investment growth decelerating sharply to 3.5%. FocusEconomics project expect private consumption to expand 4.6% in 2019, which is up 0.3 percentage points from last month’s projection. For 2020, panelists see private consumption rising 3.5%.


Author:, Economist

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Hungary Economic Sentiment July 2019 0

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


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