In July 2023, the volume of sales in retail trade decreased by 7.7% according to raw data and by 7.6% when adjusted for calendar effects compared to the same period of the previous year. Calendar-adjusted sale volumes decreased by 4.1% in specialized and non-specialized food shops, by 5.5% in non-food retailing and by 20.5% in […]

The stock index of the Budapest Stock Exchange (BSE) fell this week, closing at 55,504.98 points on Friday, 2.47% lower than a week earlier, MTI reported Sunday morning, along with a brief analysis of the week’s trading. The weekly turnover of the stock market was HUF 52.9 billion, down from HUF 64.8 billion the previous […]

Although stock markets tend to be subdued in the summer months, the Budapest Stock Exchange had an outstanding month. The BSE's primary stock index, the BUX index, ended the month at 55,775 points, a historical record for the month, following a 4.5% increase, the financial portal portfolio.hu writes. The strong form was also reflected in […]

The Hungarian financial landscape witnessed yet another step in the ongoing monetary easing cycle as the nation's central bank announced a significant rate cut in August. With the ebbing pace of inflation creating room for further rate reductions, all eyes are now on the impending merger of the effective and base rates, set to occur […]

The surplus of the external trade in goods amounted to EUR 1.6 billion in Hungary in June, compared to May the adjusted volume of export decreased by 0.8% and that of import lessened by 1.5%, the Central Statistical Office reports. The volume of export increased by 10% in June 2023, while that of import decreased […]

In the 2nd quarter of 2023, the volume of investments in Hungary decreased by 13.5% compared to the same period of the previous year, and lessened by 4.1% compared to the previous quarter (seasonally adjusted). Most sections of the national economy contributed to the general decrease of investments. Investment performance increased only in manufacturing as […]

In the 2nd quarter of 2023, service exports calculated in EUR increased by 6.7%, their imports grew by 0.8% compared to the same period of the previous year. The surplus was EUR 2.7 billion, EUR 451 million more than in the 2nd quarter of 2022, slightly surpassing the previous record. Exports rised by 8.4%, imports […]

At its meeting this Tuesday, the Monetary Council of the National Bank of Hungary (MNB) reviewed the latest economic and financial developments and decided not to change of central bank base rates with effect from August 30, but leave it at 13.00%. At the same time, the interest rate corridor was narrowed. In the Monetary […]

The stock index of the Budapest Stock Exchange (BSE) rose this week, closing at 56,912.43 points on Friday, 1.21% higher than a week earlier, MTI reported Sunday morning, along with a brief analysis of the week’s trading. The weekly turnover of the stock market was HUF 64.75 billion, up from HUF 53.54 billion the previous […]

As Hungary's economy faces headwinds, the government is preparing for a potential revision of its 2023 budget. The decision, which could have significant implications for the nation's fiscal strategy, will be made following the release of third-quarter economic data. The reassessment comes as the government acknowledges that its initial full-year growth projection has become increasingly […]

The current account surplus increased by EUR 152 million to EUR 547 million in June from EUR 396 million in May, according to the latest preliminary data released by the National Bank of Hungary (MNB). Due to an increase of EUR 510 million in export receipts and EUR 110 million in import payments, the external […]

The stock index of the Budapest Stock Exchange (BSE) rose slightly this week, closing at 56,232.21 points on Friday, up 117.80 points or 0.21% from a week earlier, MTI reported Sunday morning, long with a brief analysis of the week’s trading. Weekly turnover on the stock market was HUF 53.54 billion, up from HUF 89.22 […]

Hungary unexpectedly plunged deeper into recession, recording the longest period of economic contraction in at least 28 years as the war in Ukraine and the government’s economic policy stifle growth. Despite government statements to the contrary, economists are warning that growth may not pick up in the second half of the year, leading to a […]

Hungary’s gross domestic product decreased by 2.4% according to raw data and by 2.3% according to seasonally and calendar adjusted and reconciled data in the 2nd quarter of 2023 compared to the corresponding period of the previous year, the Central Statistical Office (KSH) reports. Analysts note that this Hungarian GDP data is the third worst […]

The volume of industrial production declined in June 2023 in Hungary by 3.8%, year-on-year. Based on working-day adjusted data production fell by 6.1%. Analysts note that industrial production has been declining in the country for seven months now. Production dropped in the majority of the manufacturing subsections, at the same time production volume grew in […]