Hungary Economic Sentiment

Hungary

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.

FocusEconomics panelists expect total consumption to expand 1.5% in 2014, which is up 0.1 percentage points from last month’s projection. For 2015, the panel expects total consumption to increase to a 1.7% expansion. Panelists expect fixed investment to increase 4.2% in 2014, which is up 0.2 percentage points over last month’s estimate. For 2015, the panel sees investment expanding 2.5%.


Author: Teresa Kersting, Economist

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Hungary Economic Sentiment May 2014 1

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


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