Hungary: Economic sentiment reaches highest level since August
March 20, 2012
In March, the GKI-Erste economic sentiment index rose to minus 19.0 points from minus 22.5 points in February, which represents the highest level since August 2011. The recovery was underpinned by an improvement in both consumer and business sentiment over the previous month. Consumer confidence rose for the second month in a row, stepping up from minus 51.2 points in February to minus 49.9 points in March. The rise was mainly the result of a more positive assessment of the households' expected financial situation as well as better prospects for purchases of durable goods. Meanwhile, business sentiment rose from minus 12.4 points to minus 8.1 points, which represents the highest level in eight months. The improvement was broad-based, as confidence in all businesses improved over the previous month.