Hungary Economic Sentiment March 2020


Hungary: Economic sentiment drops to three-and-a-half-year low in March

March 23, 2020

The GKI economic sentiment index, a composite indicator, declined for the fourth month straight in March and dropped from minus 2.6 in February to minus 4.5 in March. Thus, it marked the worst reading in three-and-a-half years. March’s fall chiefly reflected a deterioration in business expectations.

Business confidence dropped to minus 1.8 in March from 0.7 in February, marking a near six-and-a-half year low, due to lower confidence across all sectors, although the fall in the services sector was moderate.

Meanwhile, consumer confidence was stable at minus 12.1 in March as households assess their personal finances in the coming year slightly more negatively than they did a month ago, but appraised their savings capacity somewhat better.

FocusEconomics panelists expect fixed investment to grow 4.0% in 2020, which is down 1 percentage points from last month’s projection. For 2021, the panel sees fixed investment growth decelerating to 3.5%. FocusEconomics project expect private consumption to expand 3.9% in 2020, which is up 0.1 percentage points from last month’s projection. For 2021, panelists see private consumption rising 3.1%.

Author:, Economist

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Hungary Economic Sentiment Chart

Hungary Economic Sentiment March 20 20

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

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