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MNB raises forecasts for 2017 household consumption, investments

Analysis

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The National Bank of Hungary (MNB) raised its forecasts for growth of household consumption and investments next year to 3.6% and 4.8%, respectively, in a quarterly report released today, Hungarian news agency MTI reported.

The forecasts in the fresh Inflation Report were raised from 2.8% for household consumption and 4.1% for investments in the previous report published in March. 

In spite of the higher projections, the MNB left its forecast for next yearʼs GDP growth unchanged at 3%. 

The MNB raised its forecast for household consumption growth this year to 4.3% from 3.5%. But it knocked down its projection for investments to a contraction of 2% from 0.3% growth forecast in March.

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