Hungary Economic Sentiment December 2020

Hungary

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.

FocusEconomics panelists forecast fixed investment to expand 5.4% in 2021, which is down 0.4 percentage points from last month’s projection. For 2022, the panel sees fixed investment growing 6.2%. FocusEconomics panelists project private consumption to increase 4.2% in 2021, which is unchanged from last month’s projection. For 2022, panelists see private consumption expanding 3.9%.


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Hungary Economic Sentiment December 20 20 0

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


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