Unemployment in Hungary
Hungary - UnemploymentThe economy likely lost traction in the second quarter following the first quarter’s growth surge. Export growth softened in April–May amid weak economic activity in the Euro area, retail sales slowed and consumer confidence fell in May. While consumers’ expectations improved in June, they deteriorated again in July: The see-saw pattern, thus, indicates cautiousness in household spending appetites. Moreover, business sentiment slid throughout Q2 and into July, hitting a 31-month low. On 12 July, parliament approved the 2020 budget, which seeks to reduce the budget deficit-to-GDP ratio to 1.0% through tax cuts, while maintaining sizeable reserves. Meanwhile, tensions with the EU are at fever pitch. On 25 July, the EU took Hungary to the European Court of Justice against the country’s asylum laws, while the government warned against any attempts to condition EU development funding on rule-of-law standards.
Hungary - Unemployment Data
5 years of economic forecasts for more than 30 economic indicators.
Hungary Unemployment Chart
Source: Hungarian Central Statistical Office (KSH).
|Bond Yield||2.35||0.0 %||Jul 31|
|Exchange Rate||294.4||-0.68 %||Jul 31|
|Stock Market||40,768||0.04 %||Jul 31|
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August 14, 2019
Economic growth decelerated to 4.9% year-on-year in the second quarter, from Q1’s 5.3% expansion, according to a preliminary estimate released by the Hungarian Central Statistical Office (KSH) on 14 August.
August 8, 2019
Consumer prices rose 0.2% over the previous month in July, contrasting a 0.2% month-on-month fall in June.
August 7, 2019
Industrial production rose a working-day-adjusted 4.1% year-on-year in June, which marked a deceleration from May’s 6.3% expansion.
July 23, 2019
On 23 July, the Monetary Council of the Hungarian National Bank (MNB) opted to keep the base rate at its current record low of 0.90% and held stable all other existing instruments.
July 21, 2019
The GKI economic sentiment index, a composite indicator, tumbled for the second consecutive month to 0.6 points in July from 2.4 points in June.