Hungary: Economic sentiment rises to seven-month high
November 26, 2012
The GKI-Erste economic sentiment index rose to minus 22.4 points in November, from minus 24.6 points in October, reaching the highest level in seven months. The improvement came on the back of increases in both business and consumer confidence. Consumer sentiment rose from minus 53.0 points in October to minus 50.7 points in November. The November improvement was the result of a less negative assessment of households' own financial situation as well as of their saving opportunities. That said, their willingness to buy durable consumer goods remained virtually unchanged over the previous month. Meanwhile, business sentiment rose to minus 12.4 points in November, also a seven-month high, from minus 14.6 points in October. The improvement was driven by a less pessimistic outlook in most sectors, which more than compensated for a worsening industrial sector outlook.