Hungary: Economic sentiment slides in May
May 24, 2012
In May, the GKI-Erste economic sentiment index fell 5.6 points to minus 24.9 points. The reading came in below the minus 19.3 points seen in April and represented the lowest level in four months. The decline reflected a drop in both consumer and business confidence. Consumer sentiment deteriorated, falling from minus 48.8 points in April to minus 55.9 points in May. Respondents assessed their saving capacity at a very low level and turned more pessimistic regarding their own financial situation for the next year. Meanwhile, business sentiment deteriorated in May to minus 14.0 points, down from minus 9.0 points in April. The decline was the result of lower expectations in the industrial, trade and construction sectors.