Hungary Economic Outlook
November 27, 2018
The Hungarian economy continued to fire on all cylinders in the third quarter, most likely supported by buoyant domestic demand. Strong wage gains coupled with solid retail sales growth throughout the quarter suggest consumer spending remained in the driver’s seat in Q3. Moreover, solid credit growth, upbeat business confidence and surging construction output point to another quarter of sustained fixed investment expansion, which also likely benefited from rising inflows of EU funds. On the other hand, the external sector weakened, due to a marked cooling in Germany’s automotive industry. Moving to the final quarter of the year, available data suggests business activity remains resilient, while consumer confidence lost some steam, probably due to rising inflation. In order to address rising concerns of a significant slowdown in the real estate sector when the preferential VAT regime expires, the finance minister announced the government will propose extending the reduced VAT for housing from the end of 2019 to the end of 2023.Hungary Economic Growth
Although growth is set to moderate next year from this year’s outstanding performance, it will nonetheless remain healthy. The primary driver of the deceleration will be a marked slowdown in fixed investment growth, due to a softer absorption of EU funds. Consumer spending will also likely lose some steam, as wage growth gradually declines and job growth slows. Met the why particular panelists see the economy expanding 3.2% in 2019, unchanged from last month’s forecast, and 2.6% in 2020.Hungary Economy Data
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Hungary Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 3.30 | 0.0 % | Dec 14 |
| Exchange Rate | 286.3 | -0.68 % | Dec 14 |
| Stock Market | 11,126 | 0.04 % | Dec 14 |
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Hungary Economic News
Hungary: Second estimate confirms stronger growth in industrial production in October
December 12, 2018
According to revised data released by the Hungarian Central Statistical Office (KSH) on 12 December, industrial output rose a working-day adjusted 3.3% year-on-year in October.
Hungary: Inflation decelerates in November
December 11, 2018
Consumer prices dropped 0.3% over the previous month in November, contrasting October’s 0.5% month-on-month increase.
Hungary: Second estimate raises growth in Q3
December 11, 2018
According to a second estimate released by the Central Statistics Office (KSH) on 5 December, the Hungarian economy continued to grow robustly in the third quarter, boosted by strong consumer spending and skyrocketing fixed investment.
Hungary: First estimate signals growth in industrial production picks up in October
December 11, 2018
According to a first estimate released by the Hungarian Central Statistical Office (KSH) on 6 December, industrial output increased a working-day adjusted 3.3% year-on-year in October, up from September’s 2.2% yoy rise. In month-on-month, seasonally and working-day adjusted terms, industrial production rose 2.0%, strongly contrasting a 2.1% contraction in September.
Hungary: Economic sentiment strengthens further in November
November 26, 2018
The GKI economic sentiment index, a composite indicator, rose to 7.5 points in November from 7.2 points in October.
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