Free Trial

Slowing Construction Output, But New Orders Provide a Bright Spot

HUNGARY
  • Weakness across the construction sector in Hungary continues, with March construction output lower by 2.9% on the month, and down 6.3% year-on-year in March. This erases a solid December read - which was supported by one-off high value projects. Optimism could be read into the new orders figure, higher by 19.4% across the period, and 50.2% higher across the building segment specifically.
  • The state secretary for employment detailed a new HUF 150bln employment support scheme to help job seekers aged 30 and older. The scheme is estimated to help 77,000 workers, and includes monthly subsidies, accommodation, travel and training allowances.
  • At the Wednesday close, EUR/HUF extended the losing streak of lower lows to 18 of the past 19 sessions - with the cross stabilising at both the 200-dma of 386.17, and the 61.8% retracement of the January - March upleg at 385.76.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.