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Recovery of consumer confidence continues - GKI

Analysis

Economic research institute GKIʼs gauge of consumer confidence continued to improve in June, albeit at a slower pace following a big correction in May, when several restrictions implemented because of the coronavirus pandemic were lifted, according to a report by state news wire MTI.

GKIʼs consumer confidence index rose to -32.8 points in June from -38.5 points in May. In April, while a stay-at-home order to contain the spread of the coronavirus was in place, the index had plunged to -49.8 points.

Householdsʼ fears of unemployment waned, but remained their biggest concern. They were less pessimistic about their financial situations and they gauged their ability to make savings at about the same level as in May.

Their outlook for the Hungarian economy, albeit still pessimistic, improved; and inflation expectations grew slightly after easing, following a jump in April.

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