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Ecostat Acceleration Indicator rises for fourth month

The Acceleration Indicator (GYIA), a measure of ten different economic and financial indicators compiled by research institute Ecostat and business daily Világgazdaság, rose by 0.14% in January, increasing for a fourth consecutive month and at a similar pace to the previous month, Ecostat told MTI on Thursday.

Ecostat emphasizes that this has been the longest period of growth in the past two years. GYIA rose 0.46% in November after rising 0.18% in October.

Among the indicators the GYIA measures are non-food retail sales, real interest -rates, the real value of the Budapest Stock Exchange's main BUX index, industrial output, the stock of vehicle loans, the yield curve for government securities, money supply and real wages.

Of the components of the GYIA, eight showed a rise in January, while two fell during the month, Ecostat said.

The article published in the on-line version of Világgazdaság on Thursday said that although it is clear that the deep recession that started in 2008 has ended in the Hungarian economy, the growth remains minimal and the economy is still stagnating.

Although with a few months delay, Hungary is following the trend of western Europe, where a turnaround occurred in the third quarter of last year on most developed markets, the article adds. Hungary's growth could be built primarily on a recovery of external demand as domestic consumption and investment are not yet showing signs of a positive change. (MTI-ECONEWS)