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Consumer confidence on the rise

Hungary's seasonally adjusted consumer confidence index continued to climb higher in January and returned to the level where it stood three years ago, economic statistics office GKI Rt reported. The average Hungarian citizen perceived his or her own financial situation considerably improved from the previous month, hopeful of further recovery in the next 12 months. The survey participants expressed a similar assessment and expectations for the national economy, most importantly in respect of inflation and unemployment rates. While consumers' willingness to spend skyrocketed in comparison with the December figures, fewer people saw an opportunity to save for a rainy day in 2006.