Hungary Economic Sentiment


Hungary: Economic sentiment inches up in April

April 26, 2015

In April, the GKI-Erste economic sentiment index inched up from March’s minus 3.6 points to minus 2.9 points, representing the first small increase following five months with moderating sentiment.

Consumer sentiment rose from minus 25.8 points in March to minus 25.0 points in April. According to GKI, the improvement resulted from the fact that households assessed their own financial situation and the current conditions for buying large-ticket items more positively than in the previous month. Conversely, their expectations regarding the prospects of their saving capacity and the future conditions for buying high-value durables were broadly unchanged.

Business sentiment also improved, rising from 4.2 points in March to 4.9 points in April. According to GKI, the result reflects that expectations improved in the trade sector, whereas they were broadly stable in the industrial, construction, and services sectors. Regarding the assessment on the general economy, GKI-Erste added that expectations, ”improved somewhat in industry, they remained unchanged in trade, whereas they deteriorated in construction, services and among households.”

FocusEconomics panelists expect total consumption to expand 2.8% in 2015, which is up 0.3 percentage points from last month’s projection. For 2016, the panel expects total consumption to grow 2.4%. Panelists expect fixed investment to increase 2.9% in 2015, which is down 0.3 percentage points over last month’s estimate. In 2016, the panel sees investment expanding 1.5%.

Author: Teresa Kersting, Economist

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Hungary Economic Sentiment Chart

Hungary Economic Sentiment April 2015

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

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