Hungary Economic Sentiment


Hungary: Economic sentiment rises in August

August 24, 2015

The GKI-Erste economic sentiment advanced from July’s minus 3.1 points to minus 2.1 points in August, which marked a slight improvement after the sentiment had been broadly stable in three previous months. In addition, August’s result represented the highest reading so far this year.

Consumer sentiment rose from minus 26.0 points in July to minus 22.7 points in August. According to GKI, “the assessment of consumers’ own financial position turned better, whereas the prospects of their saving capacity much better for the next 12 months compared with the previous month.”

Business sentiment was almost unchanged, rising only marginally from July´s 5.0 points to 5.2 points in August. According to GKI, the result reflects that improving confidence among construction companies and, to a lesser extent, in the industry sector was almost offset by falling sentiment in the trade and services sectors. Regarding expectations on the general economic conditions, GKI-Erste added that, “the assessment of the prospects of the Hungarian economy improved in August, and all sectors as well as households became somewhat more optimistic.”

FocusEconomics panelists expect total consumption to expand 2.8% in 2015, which is unchanged from last month’s projection. For 2016, the panel expects total consumption to grow 2.5%. Panelists expect fixed investment to increase 1.3% in 2015, which is down 0.8 percentage points over last month’s estimate. In 2016, the panel sees investment expanding 0.6%.

Author: Teresa Kersting, Economist

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Hungary Economic Sentiment Chart

Hungary Economic Sentiment August 2015

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

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