Hungary Economic Sentiment August 2021

Hungary

Hungary: Economic sentiment improves in August amid higher business confidence

August 31, 2021

The GKI economic sentiment index, a composite indicator, edged up to minus 0.6 in August from minus 1.1 in July, the best result since November 20219. August’s result was driven by stronger business confidence more than outweighing softer consumer sentiment.

Business confidence increased to 6.1 in August from 4.4 in July, marking the strongest reading since November 2019. The print reflected an increase in sentiment in the industrial and constructions sectors more than offsetting weaker confidence in the services and trade sectors.

Meanwhile, consumer confidence fell to minus 19.7 in August from minus 16.9 in July due to households’ worsened assessments regarding the future possibility of purchasing high-value durables.

FocusEconomics panelists forecast fixed investment to expand 5.4% in 2021, which is down 0.4 percentage points from last month’s projection. For 2022, the panel sees fixed investment growing 6.2%. FocusEconomics panelists project private consumption to increase 4.2% in 2021, which is unchanged from last month’s projection. For 2022, panelists see private consumption expanding 3.9%.


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Hungary Economic Sentiment August 2021

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


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