Hungary Economic Sentiment September 2020

Hungary

Hungary: Economic sentiment dips as consumers grow more pessimistic in September

September 21, 2020

The GKI economic sentiment index, a composite indicator, slid to minus 19.3 in September from minus 19.0 in August. September’s result marked the second consecutive decline in sentiment, driven by consumers’ increased pessimism.

Business confidence inched up to minus 15.1 in September from minus 15.3 in August. The print reflected a deterioration in the sentiment in the industry and services sectors.

Consumer confidence fell to minus 31.1 in September from minus 29.6 in the previous month as households’ intentions to purchase high-value durables weakened.

FocusEconomics panelists sees fixed investment contracting 8.9% in 2020, which is up 0.2 percentage points from last month’s projection. For 2021, the panel sees fixed investment growth at 6.1%. FocusEconomics panelists project expect private consumption to fall 3.0% in 2020, which is up 0.3 percentage points from last month’s projection. For 2021, panelists see private consumption rising 4.0%.


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Hungary Economic Sentiment September 20 20

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


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