Recovery of consumer confidence continues in July, GKI says

Analysis

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Economic research institute GKIʼs gauge of consumer confidence continued to improve in June and July, albeit at a slower pace following a big correction in May, when a lockdown because of the coronavirus pandemic was lifted, state news wire MTI reports.

GKIʼs consumer confidence index climbed 11.3 points in May, rose 5.7 points in June and 5.9 in July, making up for 61pc of its plunge in April, the month when a stay-at-home order to contain the spread of the coronavirus was in place.

Households were slightly less pessimistic about their own financial situation and the state of the national economy. 

Peopleʼs assessments of their ability to make savings suggest that Hungarians consider the current situation a temporary one rather than permanent.

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