Hungary Economic Sentiment


Hungary: Economic sentiment improves marginally in December

December 23, 2015

After deteriorating in November for the first time in five months, GKI-Erste economic sentiment improved slightly in December, rising from minus 1.7 points to minus 1.5 points. The result was driven by an improvement in both business and consumer confidence.

Business sentiment inched up from November’s 4.6 points to 4.7 points in December. According to GKI, the result was driven by improved expectations in the construction and services sectors. In contrast, the industrial confidence index deteriorated, reversing some gains made previously in the year. Employment expectations were largely unchanged in the industrial sector; however, they improved in the services sector.

Meanwhile, consumer confidence rose slightly in December, from November’s minus 19.6 points to minus 19.2 points. December’s result marked the highest reading since October 2014. According to GKI, the improvement came on the back of households’ improved views of their saving capability and their current possibility of making large-scale purchases.

FocusEconomics panelists expect total consumption to expand 2.8% in 2016, which is unchanged from last month’s projection. For 2017, the panel expects total consumption to grow 2.5%. Panelists expect fixed investment to increase 1.5% in 2016, which is unchanged over last month’s estimate. In 2017, the panel sees investment expanding 0.6%.

Author: Angela Bouzanis, Senior Economist

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Hungary Economic Sentiment Chart

Hungary Economic Sentiment December 2015

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

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