Hungary Economic Sentiment July 2020

Hungary

Hungary: Economic sentiment strengthens again in July

July 27, 2020

The GKI economic sentiment index, a composite indicator, rose to minus 18.2 in July from minus 20.5 in June. July’s reading reflected an improvement in both business and consumer sentiment.

Business confidence increased to minus 15.2 in July from minus 16.2 in June, driven in large part by less pessimistic views in the trade and services sectors. Meanwhile, sentiment in the industrial and construction sectors remained unchanged.

Consumer confidence rose to minus 26.9 in July from minus 32.8 in the previous month as households’ assessment of their financial position and expected savings capacity improved.

FocusEconomics panelists sees fixed investment contracting 9.1% in 2020, which is up 0.1 percentage points from last month’s projection. For 2021, the panel sees fixed investment growth at 5.8%. FocusEconomics panelists project expect private consumption to fall 3.3% in 2020, which is up 0.7 percentage points from last month’s projection. For 2021, panelists see private consumption rising 4.5%.


Author:, Economist

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Hungary Economic Sentiment July 20 20

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


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