Hungarian Parliament building

Hungary Economic Sentiment April 2022

Hungary: Economic sentiment plunges in March amid the Ukraine conflict

The GKI economic sentiment index, a composite indicator, plummeted to minus 5.5 in March from minus 0.5 in February. March’s result was driven by worsening business confidence and plunging consumer sentiment.

Business confidence decreased to 2.4 in March from 5.3 in February. The print reflected declines in sentiment in the industrial and services sectors more than offsetting improving sentiment in the trade sector.

Meanwhile, consumer sentiment collapsed to minus 28.0 in March from minus 17.0 in February due to households’ worsened assessments regarding their own financial situation and their current possibility of purchasing big-ticket items.

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