Indicators
Hungary’s GKI Business Confidence Index Plunges to Five-Year Low
Retail sales, which Prime Minister Viktor Orban’s government has counted on to power the economy before elections next year, are also showing signs of fizzling.
Photographer: Akos Stiller/BloombergHungary’s business confidence index plunged to its lowest level in almost five years, in another sign that the economy could be on the brink of another recession.
The gauge fell 2.1 points to -14.8 in July, the lowest level since June 2020, according to the GKI research institute, which compiles the data. Along with deeply pessimistic consumers, the overall economic confidence level slipped to -19.2, the worst reading since the end of 2022.