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Hungary acceleration indicator drops further in September - paper

Analysis

The Acceleration Indicator (GYIA), a measure of ten different economic and financial indicators compiled by business daily Világgazdaság, fell 0.42% in September from a month earlier after dropping 0.24% the previous month, the paper said on Thursday.

The indicator, which is designed to forecast changes in GDP, declined for the fourth consecutive month, and the outlook is also negative, the paper said. It noted that the indicator even stopped to grow in a yr/yr comparison

Six of the measure's ten components deteriorated, while two were stable and two showed improvement.

Falling real interest rates and the stock of consumer loans had a positive impact on the GYIA, but key indicators such as industrial output and Germany's business outlook deteriorated substantially, indicating that the current economic decline is due to worsening external conditions.

The indicators representing the money supply, the difference between short-term and long-term government securities yields, the BUX index and long-term unemployment also deteriorated.

The indicators reflecting real wages and industrial domestic sales remained stable, thus, the data representing the domestic market were relatively stronger, just as in the previous month.


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