Hungary Economic Sentiment


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.

FocusEconomics panelists expect total consumption to expand 2.3% in 2015, which is unchanged from last month’s projection. For 2016, the panel expects total consumption to grow 2.1%. Panelists expect fixed investment to increase 2.7% in 2015, which is unchanged over last month’s estimate. In 2016, the panel sees investment expanding 2.8%.

Author: Teresa Kersting, Economist

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Hungary Economic Sentiment Chart

Hungary Economic Sentiment December 2014

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

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