Hungary Economic Sentiment


Hungary: Economic sentiment inches down in May

May 25, 2015

In May, the GKI-Erste economic sentiment index inched down from April’s minus 2.9 points to minus 3.1 points. Sentiment has been declining since November of last year, with a brief interruption in April.

Consumer sentiment advanced from minus 25.0 points in April to minus 22.6 points in May. According to GKI, the improvement resulted from the fact that households assessed their own financial situation and their savings capacity during the next year more positively. While they were less positive about the current conditions for buying large-ticket items than in the previous month, their expectations regarding the future conditions for buying high-value items improved.

By contrast, business sentiment worsened, falling from 4.9 points in April to 3.7 points in May. According to GKI, the result reflects that expectations deteriorated in the trade sector, industrial and construction sectors. Conversely, the services sectors recorded a significant improvement. Regarding expectations on general economic conditions, GKI-Erste added that, ”the assessment of the perspectives of the Hungarian economy got worse, with the exception of services.”

FocusEconomics panelists expect total consumption to expand 2.8% in 2015, which is unchanged from last month’s projection. For 2016, the panel expects total consumption to grow 2.4%. Panelists expect fixed investment to increase 3.0% in 2015, which is up 0.1 percentage points over last month’s estimate. In 2016, the panel sees investment expanding 1.1%.

Author: Teresa Kersting, Economist

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Hungary Economic Sentiment Chart

Hungary Economic Sentiment May 2015

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

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