inflation

Macro Monitor – March 2024

In 2023, the volume of Hungarian gross domestic product (GDP) fell slightly by 0.7%, while growth is likely to remain subdued in the following years. We expect Hungarian economic output to grow by 2.7% in 2024 and 3.4% in 2025. This year and next will be marked by a slow recovery process.

According to the March 2024 survey of Századvég Konjunktúrakutató, household economic sentiment deteriorated by 1.9 index points, while business economic expectations decreased by 1.1 index points from the previous month. Thus, the household index, measured on a scale of -100 to +100, weakened to -14.8, while the business index to -12.9. The March survey shows a marked positive change in that households are less worried about job losses in the next six months than a month earlier. In the business sector, the largest negative change from February to March was in expectations for future exchange rate movements.

Macro Monitor – February 2024

Macro Monitor – January 2024

According to the January 2024 survey of Századvég Konjunktúrakutató, household economic sentiment improved by 3.3 index points, while business economic expectations decreased by 1.0 index points from the previous month. Thus, the household index, measured on a scale of -100 to +100, strengthened to -11.9, while the business index weakened to -11.7. The indices show a significant improvement over a longer horizon: compared to December 2022, the household index increased by 18.0 index points and the corporate index by 10.2 index points. The January survey showed a marked positive change, with households saying they had bought more goods and services in the past year than a year earlier. And companies were positive about their future investment plans.