Hungary: Economic sentiment improves marginally in December
December 23, 2015
After deteriorating in November for the first time in five months, GKI-Erste economic sentiment improved slightly in December, rising from minus 1.7 points to minus 1.5 points. The result was driven by an improvement in both business and consumer confidence.
Business sentiment inched up from November’s 4.6 points to 4.7 points in December. According to GKI, the result was driven by improved expectations in the construction and services sectors. In contrast, the industrial confidence index deteriorated, reversing some gains made previously in the year. Employment expectations were largely unchanged in the industrial sector; however, they improved in the services sector.
Meanwhile, consumer confidence rose slightly in December, from November’s minus 19.6 points to minus 19.2 points. December’s result marked the highest reading since October 2014. According to GKI, the improvement came on the back of households’ improved views of their saving capability and their current possibility of making large-scale purchases.