Hungary: Economic sentiment strengthens at start of 2021
The GKI economic sentiment index, a composite indicator, rose to minus 16.3 in January from minus 19.7 in December. January’s result was driven by improved business and consumer confidence.
Business confidence increased to minus 10.1 in January from minus 13.1 in December. The print mainly reflected more optimistic assessments of the future of the Hungarian economy and stronger willingness to employ.
Meanwhile, consumer confidence rose to minus 33.8 in January from minus 38.5 in the previous month due to households’ improved assessments of their own financial situation and increased willingness to buy high-value durables.