Retail Sales in Hungary
Hungary - Retail SalesThe pace of annual GDP growth accelerated in Q1 2022, as activity was underpinned by robust consumer spending amid a tight labor market and soaring wages, while fixed investment posted a faster increase. Moreover, exports recorded a healthy expansion. The rate of economic growth should moderate in Q2, partially due to a waning low base effect. Inflation spiked further in April, sending consumer sentiment plunging in May, which will be weighing on household spending. That said, business confidence was higher on average in April-May than in Q1, pointing to healthy investment. However, the introduction of a temporary windfall tax on banks’ and companies’ profits—to rein in the public deficit—stirred investor concern and lead to stock market losses in late May. Moreover, the government recently assumed emergency powers because of the Russia-Ukraine war, allowing it to rule by decree.
Hungary - Retail Sales Data
|Retail Sales (annual variation in %)||5.9||4.9||5.6||6.8||6.3|
5 years of economic forecasts for more than 30 economic indicators.
Hungary Retail Sales Chart
Source: Hungarian Central Statistical Office (KSH) and FocusEconomics calculations.
|Bond Yield||2.08||0.0 %||Dec 31|
|Exchange Rate||295.1||-0.68 %||Jan 01|
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January 31, 2023
The GKI economic sentiment index, a composite indicator, rose to minus 20.5 in January from minus 20.8 in December.
January 25, 2023
At its 24 January meeting, the Monetary Council of the Hungarian National Bank (MNB) left its base rate unchanged at 13.00% for the fourth consecutive meeting.
January 16, 2023
Inflation rose to 24.5% in December from November’s 22.5%.
January 16, 2023
According to a second estimate by the Statistical Institute, industrial output grew 0.8% year on year in November (October: +5.0% yoy).
December 23, 2022
The GKI economic sentiment index, a composite indicator, rose to minus 21.3 in December from minus 22.5 in November, which had marked the lowest reading in 23 months.