Hungary: Economic sentiment deteriorates to over two-year low in July
Latest reading: Economic sentiment came in at 89.7 in July, down from June’s 93.1, marking the worst reading since November 2022. Consequently, the index fell further below the long-term average of 100, pointing to a muted near-term outlook for the economy.
The headline print reflected deteriorating sentiment in the industrial and retail sectors. On the flipside, July saw stronger sentiment in the construction sector plus healthier confidence in the services sector and among consumers.
Regarding indicators that are not used to calculate the index, employment expectations deteriorated, while the economic uncertainty index increased in July.