Hungary: Economic sentiment virtually unchanged in April
April 24, 2012
In April, the GKI-Erste economic sentiment index was virtually unchanged over the previous month at minus 19.3 points. The reading came in only a notch below the minus 19.0 points seen in March, which had marked the highest level since August 2011. Consumer sentiment improved for the third month in a row, rising from minus 49.9 points in March to minus 48.8 points in April. Respondents assessed more positively their saving opportunities compared to the previous month. However, according to GKI, households remained very pessimistic, turning more downbeat about their own financial situation for the next year. Meanwhile, business sentiment deteriorated in April to minus 9.0 points, down from minus 8.1 points in March, which had represented the highest level in eight months. The decline was the result of lower expectation in the services sector, while they were virtually unchanged in trade, industry and construction.