Solvency index of households recovered to pre-pandemic level in Q2
The solvency index of Hungarian households recovered and was around its pre-pandemic level at the end of the second quarter, according to the latest quarterly survey by receivables management company Intrum and economic research company GKI, writes portfolio.hu.
The average index score rose by 67% year-on-year to 47 points in the second quarter and was up from 39 points in Q1. The index score stood at 42.2 points in April, 46.9 points in May, and 51.6 points in June.
Intrum director of sales and business development Károly Deszpot said the recovery of exports, the revival of the service sector, tourism, retail, and personal services are improving the financial situation of the population. He added that the main risks to further improvement are inflation, the end of the loan repayment moratorium, and possible new restrictions to combat the coronavirus.
The solvency index summarizes the financial security of households in a single figure, factoring in incomes, the volume of loan debt, the value of savings, as well as the cost of living.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.