Hungary: Economic sentiment inches up in September amid higher business confidence
September 28, 2021
The GKI economic sentiment index, a composite indicator, edged up to minus 0.5 in September from minus 0.6 in August, the best result since November 2019. September’s result was again driven by stronger business confidence more than outweighing softer consumer sentiment.
Business confidence increased to 6.5 in September from 6.1 in August, marking the strongest reading since November 2019. The print reflected an increase in sentiment in the services, trade and constructions sectors more than offsetting weaker confidence in the industrial sector.
Meanwhile, consumer confidence fell to minus 20.3 in September from minus 19.7 in August due to households’ worsened assessments regarding the future of the Hungarian economy.