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Ecostat Acceleration Indicator up 0.21% in March

The Acceleration Indicator (GYIA), a measure of ten different economic and financial indicators compiled by business daily Világgazdaság, rose 0.21% in March.

The measure shows that the economy slowed down in March, although the figures for the first quarter reflect "good form".

Seven of the indicators the GYIA measures improved, and the other three deteriorated in March. Real interest rates fell after rising steadily for six months, which positively influences investments. The difference between short-term and long-term interest rates shrank, which has a similar effect. Money supply grew, reflecting a pick-up in economic activity. The stock of consumer loans declined, however.

The BUX index rose, real wages rose month-on-month, and Germany expectations soared, which is good news for Hungarian exports. In industry, both domestic sales and output declined.

The average time spent looking for a job showed improvement after a rise of six months.

The GYIA measures 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.