Economic Sentiment Index: Up in EU, Down in Hungary

The economic sentiment index improved in the eurozone and the European Union in May compared to the previous month, while it deteriorated in Hungary, according to final data released Thursday by the European Commission’s Directorate-General for Economic and Financial Affairs (DG ECFIN).

As MTI reports, the Economic Sentiment Indicator (ESI) improved to 93.5 points in the eurozone from 93.2 points in April, and rose from 93.4 points to 93.7 points across the European Union as a whole.

The Employment Expectations Indicator (EEI) rose to 95.4 points in the EU from 93.3 points in April, and to 94.7 points in the eurozone from 91.9 points in May.

The Consumer Confidence Index improved in the EU from minus 19.9 points in April to minus 18.2 points, and strengthened in the eurozone from -20.6 points to -19 points.

In Hungary, the Economic Sentiment Indicator (ESI) weakened from 99.8 points in April to 99.3 points in May. The Employment Expectations Index (EEI) rose from 98.4 points to 101.5 points. The industrial index deteriorated from minus 7.1 points in April to minus 8.1 points, while the services sector index fell from minus 9.3 points to minus 12.9 points.

Consumer sentiment in Hungary improved in May, rising from minus 15.6 points to minus 2.1 points. The retail sentiment index rose from minus 13 points in April to minus 11.4 points. The construction sentiment index improved to minus 21.1 points in May from minus 22.6 points in April.