Hungary: Economic sentiment weakens in November
The GKI economic sentiment index, a composite indicator, dropped to minus 23.7 in November from minus 18.8 in October. November’s result was driven by deteriorated business confidence and marked the worst reading since May.
Business confidence fell to minus 20.4 in November from minus 13.4 in October. The print mainly reflected less favorable assessments of the future of the Hungarian economy and weaker willingness to employ.
Meanwhile, consumer confidence ticked up to minus 33.0 in November from minus 34.2 in the previous month due to households’ improved assessments of their own financial situation.