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Hungary's VEX competitiveness index rises 1.2% in Q3

The GKI-Microsoft Magyarország competitiveness index (VEX) for Hungary rose 1.2% in Q3 2010 from the previous quarter, economic think-tank GKI reported.

The Czech Republic's competitiveness index climbed 2.1% during the quarter, while Slovakia's rose 1.5% and Romania's fell 0.5%.

The main factors contributing to the considerable improvement of Hungary's competitiveness index in Q3 2010 were export growth and the weaker forint exchange rate.

Among the factors contained in the competitiveness index, Hungary's index measuring macroeconomic performance rose 1% in Q3 from the previous quarter. Similar to most countries covered by the survey, the improvement stemmed from expanding exports, which offset the contraction of investments. The only two exceptions were the Czech Republic and Slovakia, where rising exports and investments raised the sub-index by 4.4% and 2.5%, respectively. (MTI – Econews)