Hungary Economic Sentiment March 2021

Hungary

Hungary: Economic sentiment ticks up in March

March 23, 2021

The GKI economic sentiment index, a composite indicator, rose to minus 16.7 in March from minus 17.6 in February. March’s result was driven by stronger business and consumer confidence.

Business confidence increased to minus 11.1 in March from minus 11.5 in February. The print mainly reflected stronger sentiment in the industrial, construction and trade sectors more than offsetting more downbeat sentiment in the services sector.

Meanwhile, consumer confidence increased to minus 32.6 in March from minus 34.9 in the previous month due to households’ improved assessments of their own financial situation and savings capacity.

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 March 2021

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


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