Industrial producer prices as a whole were 6.8% higher in December 2020 than a year earlier. The rate of increase of prices was influenced primarily by the weakening of the forint against the Euro. According to a report by the Central Statistical Office published this Tuesday, domestic output prices were up by 2.6% and non-domestic output […]

Surplus on Hungary's external trade in goods amounted to EUR 836 million in November, exports grew by 0.4% and imports by 1.1% compared to October, the Central Statistical Office reported this Monday. In November 2020, the volume of exports increased by 12% and that of imports by 7.7% compared to the same period of the previous year. […]

Local demand for IT professionals has doubled over the past five years with employers seeking to hire as many as 44,000 digital professionals in the medium term, according to a recent study. However, the increasing shortage of computer scientists is set to leave many IT-reliant enterprises scrambling to meet their business objectives. A recently published […]

Surplus on Hungary’s external trade in goods amounted to EUR 811 million in November, exports decreased by 0.5% and imports went up by 0.4% compared to October, according to the latest data published by the Central Statistical Office. In EUR terms, the value of exports was 6.9% and that of imports 1.9% higher in November […]

The Hungarian currency set out on a strengthening path in the first week of 2021 as optimism that vaccinations will curb the pandemic and Democrats’ Senate election gains in the U.S. boosted international investor sentiment. The forint reached its strongest level against the USD in 2.5 years on Thursday. The forint appreciated sharply in the […]

Industrial producer prices as a whole were 5.5% higher in November 2020 than a year earlier. The rate of increase of prices was influenced primarily by the weakening of the forint against the euro. As the Hungarian Central Statistical Office reports, domestic output prices were up by 1.3% and non-domestic output prices by 7.7%. Compared […]

“It will be crucial when the protection of the population against infection can be achieved. If this is achieved in the first half of 2021, we expect the fastest economic recovery in Hungary in the last hundred years.” Even if the last half of this statement made earlier this week by the Governor of the […]

GKI’s economic sentiment index rose sharply in December. It almost reached its October level again, which was much more favorable than the April low, but had been at a fairly low level since the beginning of summer. According to the survey conducted by GKI Economic Research Co. with the support of the EU, the improvement […]

The National Bank of Hungary left its monetary policy unchanged at this year’s last meeting of the Monetary Policy Council in a signal that rate-setters are applying caution in light of continued risks to global investor sentiment and a resurgence of the coronavirus pandemic. While a slowdown in inflation and a rally in the forint […]

The volume of construction output based on raw data was 16.2% lower in October 2020 compared to the previous year. Output decreased in both main groups of construction: in the construction of buildings by 5.3%, in civil engineering by 26.5%. Based on seasonally and working day adjusted indices construction output increased by 1.3% compared to […]

In October 2020, the volume of industrial production grew by 0.6% year-on-year according to crude data. Based on working-day adjusted data production rose by 2.7%. The growth was 2.8% compared to the previous month according to seasonally and working-day adjusted data. The Central Statistical Office's report also says that industrial output in October this year […]

After weeks of a standoff with the European Union over rule of law conditions set by the bloc, Hungary and Poland have agreed to lift their veto over the Union’s stimulus package in exchange for a much more lenient oversight process on the part of the EU. The final deal is still to be approved […]

In EUR terms, the value of exports was 1.5% and that of imports 6.8% lower in October 2020 than in the same period of the previous year, the Central Statistical Office reported this Wednesday. The balance of external trade in goods improved by EUR 516 million compared to October 2019. Compared to the previous month, the level of external […]

In November 2020, annual inflation stood at 2.7% and core inflation at 3.9%. Core inflation adjusted for the effects of indirect taxes, was 3.3%. Inflation fell by 0.3 percentage points relative to the previous month, primarily reflecting a decline in fuel and regulated product prices. The National Bank of Hungary (MNB) says its measures of […]

The Hungarian and Polish governments’ veto blocking the approval of the EU's long-term budget and coronavirus rescue package may have dire economic consequences, international credit rating agencies warned. If the standoff with Brussels drags on, it could have a negative effect on Hungary’s credit rating. Hungary and Poland followed through on their threat to block […]