Hungary: Economic sentiment reaches one-year high in January
January 30, 2017
The GKI economic sentiment indicator edged up from December’s minus 0.9 points to a 12-month high of plus 0.2 points in January. January’s print marks the third consecutive increase underpinned by an improvement in both business and consumer confidence.
Business sentiment rose from 3.7 points in December to 4.4 points in January. January’s print came on the back of a near broad-based increase in business expectations in all sectors of the economy. Services, industry and commercial enterprises were the only sectors where sentiment was more downbeat in the surveyed month. In contrast, firms across all sectors reported their willingness to increase staffing going forward.
Consumer confidence improved from December’s minus 14.1 points to minus 11.7 points, marking the best reading in almost 11 years. The increase reflected consumers’ more optimistic assessment of their future financial situation and savings capacity.