On the basis of the latest data, the seasonally adjusted economic sentiment index of GKI-Erste improved further in December 2013. According to the GKI survey, the economic sentiment index increased to -2.9 points in December, and it is the best reading in more than 10 years: the indicator exceeded this level only in October 2002.
According to the press release of the Hungarian Central Statistical Office (KSH), in October 2013 industrial output was 6 percent higher in comparison to the corresponding period of 2012. Both workday-adjusted and unadjusted data show an increase of 6 percent. In light of EU data it can be concluded that in October Hungary was the third best within the EU on the year-on-year industrial performance ranking.
According to the report of the Hungarian Central Statistical Office (KSH) published recently, in the third quarter of 2013 Hungarian GDP increased by 1.8 percent in comparison to the corresponding period of the previous year, which is 0.1 percent above the figure that preliminary data had signalled.
According to the latest data by the Hungarian Central Statistical Office (KSH), in the third quarter of this year the investment rate increased by 9.8 percent, a gain unprecedented since 2004. As the majority of national economic sectors contributed to the extraordinary growth signals that future expansion is based on a steady and sound economic structure.
On the basis of data published in the flash report of the Hungarian Central Statistical Office (KSH), it can be concluded that the trend of increasing real wages in place since January 2013 has continued in the ninth month of the year in Hungary.
According to preliminary data by the Hungarian Central Statistical Office (KSH), in the third quarter of 2013 the Hungarian economy expanded – well above analysts’ consensus estimate of 0.8 percent – by 1.7 percent, in comparison to the corresponding period of the previous year.
According to the autumn forecast of the European Commission, Hungary’s major economic indices are signalling improvement for the coming years. The differences between the opinion of the Government and that of Brussels on growth and the government budget deficit are narrowing; the forecast of the Commission has adopted a more positive stance compared to the spring prognosis.
In light of Eurostat data, a positive minimum wage trend has evolved in Hungary. The average annual growth rate of gross minimum wage calculated at purchasing power parity amounted to 9.89 percent between 2010 and 2013, which is the largest increase among OECD member countries.
In Hungary, the number of people in employment continued to rise, as 54 thousand more people were in employment in July-September 2013 compared to the corresponding period of the previous year, according to the flash report of the Hungarian Central Statistical Office (KSH) published last week. The total number of people in employment thus reached a historic peak of 3 million 990 thousand.
In the eighth month of the year, wages increased by 4.8 percent in real terms, thus the positive trend in place since the beginning of the year is continuing. According to the report of the Hungarian Central Statistical Office (KSH), in January-August 2013 gross and net average wages within the national economy were 3.4 percent and 4.8 percent higher, respectively, year-on-year. Parallel to benign inflation growth of 2.1 percent, wages gained 2.6 percent in real terms in the observed period.