Hungary: Economic sentiment improves somewhat in May
May 23, 2016
The GKI-Erste economic sentiment improved in May, advancing from minus 3.9 points in April, which had marked the lowest print since August 2014, to minus 3.2 points. Moreover, May’s reading represents the first rise after three months of falling sentiment. The increase was driven by improvements in consumer confidence and, albeit to a lesser extent, business sentiment.
Business sentiment tallied 2.3 points in May, coming in slightly above April’s 2.2. According to GKI, in May, sentiment improved in the business and trade sectors. Conversely, sentiment among the industrial and the construction sectors fell.
Meanwhile, consumer confidence rose from April’s minus 21.1 points to minus 18.9 points in May. According to GKI, the improvement was driven by the fact that consumers were more positive about their financial situation for this year, their savings capacity as well as their ability to purchase large-ticket items.