Hungary: Economic sentiment rebounds in November
The GKI economic sentiment index, a composite indicator, rose to 2.8 in November from minus 0.7 in October, which had marked the worst reading in nearly two-and-a-half years. November’s reading was underpinned by a marked jump in business confidence.
Consumer sentiment improved somewhat in November, after having deteriorated markedly in October. The index rose to minus 9.2 in November from minus 9.8 in October. Households’ expectations for the year ahead improved somewhat, while they also assessed their future ability to save more favorably.
Meanwhile, business confidence jumped to 7.0 in November from 2.5 in October. November’s rise largely reflected improved confidence in the industrial and, to some extent, services sector, while sentiment in the construction and trade sectors remained stable.