Are you sure?

Hungarian economic sentiment rose on higher business confidence

Hungarian businesses grew more optimistic in January, market research company GKI said.

The overall economic sentiment index rose to minus 19.8 in January from minus 21 the previous month, the lowest level since June 2005. The business confidence index rose to minus 7.9 from minus 9.7, GKI said in an e-mailed statement. „The value of both the industrial and the construction sentiment index rose in January for the business sector,” GKI said. „Employment plans improved and those planning to hire outnumbered those planning downsizing.”

Individuals became more pessimistic, with the consumer index falling to minus 53.7, the lowest since its inception in 1996, from minus 52. Consumer confidence has dropped after the government raised taxes and cut subsidies to slash the 25-nation bloc's widest budget deficit. People now expect incomes and savings to decline. (Bloomberg)