Consumer confidence improves in May after April plunge

In Budapest

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Consumer confidence improved in May after plunging in April, when a lockdown to contain the spread of the coronavirus was extended, state news wire MTI reports, citing economic research company GKIʼs latest gauge of household sentiment.

GKIʼs consumer confidence index rose to -38.5 points in May from -49.8 points in April.

The company suggested the improvement may be linked to the easing of restrictions outside of the capital and Pest County early in May.

Consumersʼ concerns over unemployment lessened, but job loss remained their biggest fear. Their outlook for the economy improved, as did their assessments of their own financial situations.

Inflation expectations eased, but were still far stronger than in March.

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