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Ecostat Acceleration Indicator stagnates in October

The Acceleration Indicator (GYIA), a measure of ten different economic and financial indicators compiled by Ecostat and business daily Világgazdaság, inched down 0.02 % to 99.76 % in October.

The index measured 99.95 % in July, 99.94 % in August and 99.78 % in September.

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, stock of vehicle loans, the yield curve for government securities, money supply and real wages.

The indicator was little changed in October even though seven of its ten components rose during the month.

The indicator shows money supply grew in October, but real interest rates rose. The outlook for the German economy, a key export market for Hungary, improved, and industrial output grew. At the same time, consumer lending volume fell even though real wages grew. The average time spent seeking work was longer, showing the labour market is continuing to decline. (MTI Econews)