Hungary: Economic sentiment falls to over one-year low in August
August 29, 2022
The GKI economic sentiment index, a composite indicator, fell to minus 14.3 in August from minus 9.4 in July. August’s result was the lowest reading in 17 months and was driven by worsening business and consumer sentiment.
Business confidence decreased to minus 2.1 in August from 2.0 in July. The print reflected a decline in sentiment in the industrial, constructions, trade and services sectors.
Meanwhile, consumer sentiment tanked to minus 49.2 in August from minus 41.7 in July due to households’ deteriorated assessments regarding their own financial situation, their savings capacity and their future possibility of purchasing big-ticket items.