Hungary Economic Sentiment


Hungary: Falling business confidence pushes down economic sentiment in November

November 25, 2015

Business confidence in Hungary fell to a six-month low in November, weighing on economic sentiment in the country. After rising for four straight months, GKI-Erste economic sentiment deteriorated from October’s minus 0.8 points to minus 1.7 points. October’s reading had marked the best result in ten months.

Business sentiment fell from October’s 5.8 points to 4.6 points in November. According to GKI, the result was driven by deteriorating expectations in the construction and services sectors. Survey participants expect a decrease in investment this year followed by a modest rise next year. On a positive note, employment expectations were bright and improved in almost all sectors surveyed. In addition, opinions regarding the prospects of the Hungarian economy improved.

Meanwhile, consumer confidence remained at October’s minus 19.6 points in November. According to GKI, the result came on the back of households’ improved views over their future financial situation while they viewed their saving capability worse than the previous month.

FocusEconomics panelists expect total consumption to expand 2.8% in 2015, which is unchanged from last month’s projection. For 2016, the panel expects total consumption to grow 2.5%, which is also unchanged from last month’s estimate. Panelists expect fixed investment to increase 1.5% in 2015, which is unchanged over last month’s estimate. In 2016, the panel sees investment expanding 0.6%, which is also unchanged from last month’s Consensus.

Author: Angela Bouzanis, Senior Economist

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Hungary Economic Sentiment Chart

Hungary Economic Sentiment November 2015

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

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