Hungary: Economic sentiment moderates in May
May 27, 2014
In May, the GKI-Erste economic sentiment index swung from the plus 1.7 points recorded in April to minus 1.2 points. According to the GKI economic research institute, the drop in economic sentiment came on the back of a moderation in both business sentiment and consumer confidence.
Consumer sentiment decreased from minus 15.3 points in April to minus 18.4 points in May. According to GKI, “[h]ouseholds assessed their financial situations for the following year worse than in April, whereas the assessment of the savings capacity expected in the next year improved somewhat.”
Business sentiment declined from 7.7 points in April to 4.8 points in May. According to GKI, the figure resulted from a deterioration in expectations for all sectors except for trade. The services sector registered the largest decline.