Hungary: Economic sentiment inches down in December
December 22, 2014
In December, the GKI-Erste economic sentiment index fell slightly from November’s 0.7 points to 0.2 points, representing a second consecutive decline and the lowest reading in three months.
Consumer sentiment fell from minus 19.4 points in November to minus 22.1 points in December, marking a one-year low. According to GKI, “[h]ouseholds graded their financial situation and expected savings capacity worse than in the previous month. Households were somewhat more pessimistic over the possibilities of purchasing big ticket durable consumer goods.”
Business sentiment improved marginally, as it rose from 7.7 points in November to 8.1 points in December, reaching the highest value on record. According to GKI, the result reflects that improving expectations in the services sector more than offset falling expectations in the construction, commercial and industrial sectors.