Hungary: Economic sentiment falls in May
The GKI economic sentiment index, a composite indicator, fell to minus 2.6 in May from plus 2.6 in April. May’s result was driven by worsening business and consumer sentiment.
Business confidence decreased to 6.9 in May from 10.5 in April. The print reflected declines in sentiment in the industrial, construction and services sectors. On the flip side, sentiment in the trade sector improved.
Meanwhile, consumer sentiment tanked to minus 29.5 in May from minus 20.0 in April due to households’ deteriorated assessments regarding their own financial situation, their savings capacity and their current possibility of purchasing big-ticket items.