Hungary: Economic sentiment weakens in February
The GKI economic sentiment index, a composite indicator, dropped to minus 19.6 in February from minus 16.3 in January. February’s result was driven by weaker business and consumer confidence.
Business confidence decreased to minus 11.5 in February from minus 10.1 in January. The print mainly reflected weaker sentiment in the industrial and trade sectors more than offsetting less downbeat sentiment in the construction and services sector.
Meanwhile, consumer confidence fell to minus 34.9 in February from minus 33.8 in the previous month due to households’ deteriorated assessments of their own financial situation and increased willingness to buy high-value durables.