Hungary Economic Sentiment December 2019

Hungary

Hungary: Economic sentiment hits over three-year low

December 20, 2019

The GKI economic sentiment index, a composite indicator, plunged from 2.8 in November to minus 1.1 in December, marking the worst reading in over three years. December’s fall reflected a marked deterioration in business confidence.

Consumer sentiment improved in December, with the index rising to minus 8.4 from minus 9.2 in November. Households assessed both their financial situation and their ability to save more favorably, while their expectations of purchasing big-ticket items worsened slightly.

Meanwhile, business confidence dropped to 1.5 in December from 7.0 in November. December’s deterioration largely reflected slumping confidence in the industrial, construction and trade sectors, while sentiment in the services sector remained stable.

FocusEconomics panelists expect fixed investment to grow 4.0% in 2020, which is down 0.1 percentage points from last month’s projection. For 2021, the panel sees fixed investment growth decelerating to 3.1%. FocusEconomics project expect private consumption to expand 3.7% in 2020, which is unchanged from last month’s projection. For 2021, panelists see private consumption rising 2.9%.


Author:, Economist

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Hungary Economic Sentiment December 2019

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


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