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HUNGARY: Economic Sentiment Falls to Lowest Since Oct 2023

HUNGARY
CEEMEAEM BulletBulletEmerging Market NewsHungary
  • Hungary's GKI economic sentiment fell to -16.4 in November from -13.5 in October, according to the GKI Economic Research. That marks the lowest for the series since October 2023. Business confidence fell to -11.3 from -8.7 while consumer confidence fell to -31 from -27.1.
  • Addressing the second China International Supply Chain Expo (CISCE) in Beijing on Tuesday, Foreign Minister Peter Szijjarto said Hungary is "the safest location" for East-West cooperation. He said that Hungary was now the "number one" destination for Chinese investments in Europe, noting that CATL was setting up the biggest battery plant on the continent in Hungary, while BYD was building a factory in the nation. More Chinese investments are in the pipeline, he added.
  • There are no other data releases scheduled for today, with unemployment rate and PPI figures for October due to cross the wires Friday morning. The heads of the Czech, Hungarian and Romanian fiscal councils speak in Budapest at 09:00GMT/10:00CET.
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  • Hungary's GKI economic sentiment fell to -16.4 in November from -13.5 in October, according to the GKI Economic Research. That marks the lowest for the series since October 2023. Business confidence fell to -11.3 from -8.7 while consumer confidence fell to -31 from -27.1.
  • Addressing the second China International Supply Chain Expo (CISCE) in Beijing on Tuesday, Foreign Minister Peter Szijjarto said Hungary is "the safest location" for East-West cooperation. He said that Hungary was now the "number one" destination for Chinese investments in Europe, noting that CATL was setting up the biggest battery plant on the continent in Hungary, while BYD was building a factory in the nation. More Chinese investments are in the pipeline, he added.
  • There are no other data releases scheduled for today, with unemployment rate and PPI figures for October due to cross the wires Friday morning. The heads of the Czech, Hungarian and Romanian fiscal councils speak in Budapest at 09:00GMT/10:00CET.