Hungary: Consumer confidence recovers somewhat in June
July 24, 2012
In July, the GKI-Erste economic sentiment index stepped up to minus 23.2 points, up from minus 24.5 points in June. Although the figure represents the second consecutive improvement in the index, economic sentiment has not yet recovered to the levels seen at the beginning of the year. Consumer confidence rose from minus 52.6 points in June to minus 51.4 points in July. According to GKI, households assessed their financial situation better for the next 12 months but they turned more downbeat concerning their expected savings capacity compared to June. Business sentiment stepped up from minus 14.6 points in June to minus 13.3 points in July, which represents the first improvement seen in four months. Confidence in both industry and construction sectors rose compared to the previous month. In contrast, sentiment in the services sector was unchanged, while confidence in trade recorded a slight decline.