Hungary: Economic sentiment rebounds in February
February 27, 2012
In February, the GKI-Erste economic sentiment index rose to minus 22.5 points from minus 26.8 points in January. The increase was the result of both consumer and business sentiment improving over the previous month. Consumer confidence increased from minus 56.6 points in January to minus 51.2 points in February. The improvement was mainly the result of a more positive assessment of Hungarian household's own financial situation as well as better prospects for purchasing durable goods. Meanwhile, business sentiment rose 3.9 points to minus 12.4 points. According to GKI, expectations of industrial and service companies improved significantly, whereas those of trading enterprises only slightly. In addition, the assessment of the perspectives for the Hungarian economy improved in all sectors over the previous month.