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Hungary: Business confidence up in December

The business confidence of the top 100 Hungarian companies narrowly increased from 100.5 points in November to 102.2 points in December, as growing optimism on export markets outweighed negative expectations sparked by the state of the Hungarian economy and the home market, the monthly report of research institute Ecostat found.

The improvement is based on the favorable conditions generated by the global economic environment, Ecostat said. Regarding the prospects of the Hungarian economy, 35% of respondents expressed pessimism, twice as many as in November. The prospects on domestic sales also showed near-stagnation, with 28% expecting improvement. Meanwhile, the number of those downright pessimistic has also dropped slightly to 16%. On the other hand export prospects showed a greatly different picture, as 65% of respondents predicted increase in the volume of export sales, while 35% expected flat figures and none expected to see a decline in export demand. In line with the hopeful outlooks, 68% of respondents, opposed to a mere 54% in November planned to up their production volumes in the coming six months, the survey said. (Gazdasági Rádió)