According to an empirical survey conducted by economic research institute GKI, business expectations have never been more favorable than now, while consumer expectations have only been more favorable once before, during the 100-day action program of the government of Péter Medgyessy in 2002.
Hungary had a current account deficit of EUR 7.5 million in October, a sharp drop from a EUR 606 mln surplus in September, monthly preliminary balance of payments data from the National Bank of Hungary (MNB) showed on Friday, as reported by state news agency MTI.
The National Bank of Hungary (MNB) kept its base rate on hold at 0.9% and hasn’t changed its overnight deposit or lending rates either. However, it has announced two new unconventional monetary policy tools, a move that was expected by the market, although no one was sure about the timing.
The volume of construction output was 38.1% higher in October 2017 than the low base a year earlier. Output increased in both main groups of construction: by 27.3% in the construction of buildings, and by 51.7% in civil engineering works, according to monthly figures released by the Central Statistical Office (KSH) on Friday.
Agricultural producer prices were 7.3% higher in October 2017 than in the corresponding month of the previous year, which was made up of an increase of 8.0% in the prices of crop products and a 6.2% rise in prices of live animals and animal products, according to a first release of monthly data from the Central Statistical Office (KSH).