Hungary Economic Outlook
February 5, 2019Although GDP growth likely moderated in the fourth quarter of 2018, the performance of the economy remained robust, supported by sturdy domestic demand. This followed an impressive showing in the third quarter, which saw surging fixed investment and consumer spending soaring on the back of an extremely tight labor market. Industrial production expanded at a healthy pace in October-November, fueled by solid domestic sales, and business sentiment was upbeat throughout the quarter, which bodes well for private-sector activity. Meanwhile, retail sales recorded robust expansions in the first two months of the quarter, underpinned by notable wage growth and low unemployment, although the pace of increase was lower on average than in Q3. On the political front, protests against Hungary’s overtime work law continued in January, although they are unlikely to influence the government’s political mandate.
Hungary Economic GrowthGrowth is set to moderate this year following an outstanding 2018, but will nevertheless remain robust. Fixed investment should continue to increase solidly, although its pace of expansion will likely slow due to rising interest rates and reduced inflows of EU funds. Likewise, household spending should remain healthy on tight labor market conditions and rising wages, although it will moderate due to stronger inflationary pressures. Met the why particular panelists see the economy expanding 3.4% in 2019, unchanged from last month’s forecast, and 2.6% in 2020.
Hungary Economy Data
5 years of Hungary economic forecasts for more than 30 economic indicators.
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|Bond Yield||2.79||0.0 %||Feb 14|
|Exchange Rate||281.9||-0.68 %||Feb 14|
|Stock Market||39,899||0.04 %||Feb 14|
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Hungary Economic News
February 14, 2019
The Hungarian economy continued to fire on all cylinders in the fourth quarter.
February 13, 2019
According to revised data released by the Hungarian Central Statistical Office (KSH) on 13 February, industrial output rose a working-day adjusted 5.7% year-on-year in December, the strongest reading in almost a year.
February 7, 2019
According to a first estimate released by the Hungarian Central Statistical Office (KSH) on 7 February, industrial output increased a working-day adjusted 3.6% year-on-year in December, virtually matching November’s 3.5% rise. In month-on-month, seasonally and working-day adjusted terms, industrial production jumped 2.5% in December, contrasting a 1.1% contraction in November.
Hungary: Central Bank keeps rates unchanged at first meeting of the year but sticks to normalization plan
January 29, 2019
At its latest monetary policy meeting held on 29 January, the Monetary Council of the Hungarian National Bank (MNB) left the base rate unchanged at its current record low of 0.90%, while also holding steady all other monetary policy instruments.
January 24, 2019
The GKI economic sentiment index, a composite indicator, dropped to 7.1 points in January from 8.6 points in December.