Hungary: Economic sentiment strengthens at year end
January 4, 2021
The GKI economic sentiment index, a composite indicator, rose to minus 19.7 in December from minus 23.7 in November. December’s result was driven by improved business confidence more than offsetting deteriorated consumer confidence.
Business confidence jumped to minus 13.1 in December from minus 20.4 in November. The print mainly reflected less unfavorable assessments of the future of the Hungarian economy and stronger willingness to employ.
On the other hand, consumer confidence dropped to minus 38.5 in December from minus 33.0 in the previous month due to households’ deteriorated assessments of their own financial situation.