Hungary Economic Outlook
January 8, 2019
Economic activity seemingly remained robust in the fourth quarter of 2018, after strong consumer spending and surging fixed investment drove the third-quarter expansion. In October, growth in the industrial sector picked up on the back of solid car production and retail sales continued to expand sturdily, buttressed by a tight labor market and soaring wages. Although the economic environment remains bright, the political scenario is more turbulent. In order to address the problem of rising labor shortages, in mid-December the Hungarian parliament approved a law which increases the amount of overtime working hours employers can demand their workers to take on. Moreover, in a move which could spark further clashes with EU institutions, the National Assembly passed another law creating a new court system to arbitrate on administrative matters, which will be overseen by the justice minister. Although both laws prompted opposition parties to take to the streets, protests are unlikely to represent a serious challenge to the government due to the political diversity among the opposition and the high approval rating of Prime Minister Viktor Orban.Hungary Economic Growth
Consumer spending is expected to moderate this year, on higher inflation and softer job gains, while the expansion in fixed investment should slow due to a slower absorption of EU funds. Milder domestic demand will lead to a deceleration in GDP growth, which will nevertheless remain solid. Moreover, healthy growth will lead to a further decline in the public-debt-to-GDP ratio. Met the why particular panelists see the economy expanding 3.4% in 2019, up 0.2 percentage points from last month’s forecast, and 2.6% in 2020.Hungary Economy Data
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Hungary Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 2.91 | 0.0 % | Jan 30 |
| Exchange Rate | 274.9 | -0.68 % | Jan 30 |
| Stock Market | 11,863 | 0.04 % | Jan 30 |
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Hungary Economic News
Hungary: Industrial output growth ticks up in February
April 15, 2019
Industrial output increased a working-day-adjusted 5.9% year-on-year in February, outpacing a 5.0% increase in January.
Hungary: Inflation soars in March
April 9, 2019
Consumer prices increased 0.7% over the previous month in March, up from February’s 0.6% increase.
Hungary: Economic sentiment slips further in March
March 29, 2019
The GKI economic sentiment index, a composite indicator, dropped to 6.2 points in March from 6.7 points in February.
Hungary: MNB sends dovish signals despite one-off overnight deposit rate hike in March
March 27, 2019
At its latest monetary policy meeting on 26 March, the Monetary Council of the Hungarian National Bank (MNB) raised the overnight deposit rate by 11 basis points to minus 0.05%, while holding steady all other existing instruments—including the base rate at its current record low of 0.90%.
Hungary: Industrial output growth eases in January
March 27, 2019
According to the Hungarian Central Statistical Office (KSH), industrial output increased a working-day adjusted 5.0% year-on-year in January, easing from the 5.7% increase in December 2018.
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