Hungary: Economic sentiment slides in June
June 23, 2019
The GKI economic sentiment index, a composite indicator, fell to 2.4 points in June after rising for the first time in five months to 4.3 points in May. June’s drop reflected a deterioration in business confidence, which more than offset an improvement in consumer confidence.
Business confidence worsened amid less positive short-term expectations in the industrial and services sectors, with the index sliding to 5.7 points from 9.4 points in May. Sentiment in the trade and construction sectors was essentially stable from May.
Meanwhile, consumer confidence climbed in June, with the index rising to minus 7.0 points from minus 10.4 points in May. June’s uptick reflected households’ more upbeat assessment of their ability to save and brighter outlook on their personal financial situation.
Author: Nihad Ahmed, Economist