Hungary Economic Sentiment January 2017

Hungary

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.

FocusEconomics panelists expect private consumption to expand 4.2% in 2017, which is up 0.1 percentage points from last month’s projection. For 2018, the panel expects private consumption to grow 3.4%. Panelists expect fixed investment to decrease 7.2% in 2017, which is down 0.2 percentage points from last month’s estimate. In 2018, the panel sees fixed investment expanding 4.2%.


Author: Jean-Philippe Pourcelot, Economist

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Hungary Economic Sentiment Chart


Hungary Economic Sentiment January 2017 0

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


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