GfK: Consumer confidence up to 167.4 in Q2

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Hungary’s consumer confidence index saw a rise to 167.4 points in Q2, up from the previous quarter’s 164.8, GfK Hungaria, the market researcher which compiles the index reported yesterday.

The gauge of consumer expectations climbed 4 points to 183.5 as the proportion of households that expect an economic improvement in the short term edged over one-fifth, the market researcher said.

The indicator of propensity to make purchases increased a single point to 149.5, GfK added. Data by the researcher suggest that the percentage of Hungarians that expect unemployment to decline fell to 22% from 28%, while the number that expect the jobless rate to remain unchanged rose to 43%.

Approximately 60% expect prices to rise in the coming twelve months, putting the increase at 5% on average. About 46% of households expect inflation to outpace wage growth. One-quarter said now was not a good time to take out a loan. Almost two-thirds said they would never take out a loan.

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