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Tag Archives: Hungary’s

Hungary’s deficit reaches HUF 894.1b in July, 100.2% of full-year target

BUDAPEST: Hungaryʼs cashflow-based general government deficit, excluding local councils, reached HUF 894.1 billion at the end of July, a second reading of data released by the National Economy Ministry today reveals, according to Hungarian news agency MTI. The deficit reached 100.2% of the HUF 892.4 bln full-year target. The ministry noted that the deficit had reached HUF 851.4 billion at the ... Read More »

Hungary’s PMI down to 50.0 Pts in July: Halpim

BUDAPEST: Hungaryʼs seasonally-adjusted Purchasing Managersʼ Index (PMI) saw a fall to 50.0 points in July, down from June’s 54.9, the Hungarian Association of Logistics, Purchasing and Inventory Management (Halpim), which compiles the index, reported today, according to news agency MTI. An index value above 50 shows expansion in the manufacturing sector, while a value under 50 signals contraction, Halpim noted, ... Read More »

Hungary’s electricity consumption reaches 42.5 TW in 2014: Mavir

BUDAPEST: Hungary’s gross electricity consumption increased to 42.5 TW last year, with imports accounting for 31.4% of total electricity consumed, data from transmission system operator Mavir reveal, according to Hungarian news agency MTI. Data from Mavir suggest that generator capacity reached 7,290.4 MW, while the gross nameplate capacity of Hungarian power plants stood at 8,936.4 MW by the end of ... Read More »

Hungary’s retail sales up 4.2% in May 2015: KSH

BUDAPEST: Retail sales in Hungary saw an unadjusted year-on-year rise of 4.2% in May, up from last month’s 4.1%, adjusted for calendar effects, while retail sales rose by 5.2%, up from April’s 5.0%, a first reading of data released by the Central Statistics Office (KSH) on Friday reveals. Adjusted for calendar effects, the volume of sales rose by 1.1% in ... Read More »

Hungary’s Telenor Magyarország revenue slips 3% in Q2- 2015

BUDAPEST: Second-quarter sales revenue of Telenor Magyarország fell 3% to HUF 37.6 bln from the same period a year earlier, the firm said yesterday. Subscriptions for phone services, handset sales and internet subscriber numbers were up, but lower interconnection fees resulted in smaller revenue, Telenor Magyarország said. EBITDA cleared of one-off items fell 17% to HUF 11.9 bln. CAPEX was ... Read More »

Hungary’s agricultural producer prices fall 8.1% in May: KSH

BUDAPEST: producer prices in Hungary saw a year-on-year 8.1% fall in May, with prices of crops dropping by 6.7% and prices of livestock and animal products down by 10.4%, the Central Statistics Office (KSH) said today in a first release of data. KSH said that cereal prices decreased by 16% and price of potatoes by 44%, while the price of ... Read More »

Hungary’s factory gate prices up 1% in May: KSH

BUDAPEST: Hungary’s industrial producer prices saw a year-on-year rise of 1% in May, following a decline that lasted four months, the Central Statistics Office (KSH) reported today. In the first five months of 2015, domestic sales prices decreased 3.5% and export sales prices were down 0.3% as compared to January–May 2014, resulting in a 1.4% total decrease of industrial producer ... Read More »

Hungary’s Euroventures invests HUF 200m in Furgefutar.hu

BUDAPEST: Euroventures invested HUF 200 mln in Hungarian internet express delivery company Furgefutar.hu, the venture and private capital investor told Hungarian news agency MTI today. Furgefutar.hu has experienced an annual growth of 75% since it was established in 2010, Euroventures said, booking a “small loss” on revenue of HUF 158 mln last year, according to public records. MTI said that ... Read More »

Hungary’s PMI falls to 55.1Pts in June

BUDAPEST: Hungaryʼs seasonally-adjusted Purchasing Managers Index (PMI) saw a decrease to 55.1 points in June from the previous month’s 55.2, the Hungarian Association of Logistics, Purchasing and Inventory Management (Halpim), which compiles the index, reported today. An index value above 50 shows expansion in the manufacturing sector, while a value under 50 signals contraction, Hungarian news agency MTI noted, adding ... Read More »

Hungary’s General government deficit reaches HUF 511.1b in May, about 58% of full-year target

BUDAPEST: Hungaryʼs cashflow-based general government deficit, excluding local councils, reached HUF 511.1 bln at the end of May, the National Economy Ministry said today. The deficit reached 58.3% of the HUF 877.4 bln full-year target. The ministry noted that the deficit had reached HUF 681.7 bln at the end of May last year. The central budget deficit came to HUF ... Read More »

Hungary’s average gross wage HUF 241,600 in Jan-April

BUDAPEST: In the period from January-April, the average gross pay in Hungary was HUF 241,600 per month, an increase of 3.9% over the same period of last year, according to a report released by the Central Statistics Office (KSH). During the same period, average net pay, excluding family tax credits, was HUF 158,200 per month, KSH said. Average gross monthly earnings ... Read More »

Hungary’s Industrial vacancy rate decreases by 6.8% in Q1 of 2015

BUDAPEST: The vacancy rate of the Budapest industrial market has decreased by 6.8% as compared to first quarter last year, reaching 14.5% in Q1 2015 and continuing a six-quarter trend, according to a JLL press release issued today. Despite a drop in take-up volume from the last quarter of 2014, the first quarter of 2015 has shown a 55% improvement ... Read More »

Hungary’s online trade up 26% to 273b in 2014

BUDAPEST: Retail sales which took place through the internet climbed 26%, reaching HUF 273 bln in Hungary in 2014, industry association SzEK.org told Hungarian news agency MTI yesterday, citing data from market researcher eNet. This year, online retail sales in Hungary are also projected to rise 26%. SzEK.org said that, in May, it joined the Ecommerce Europe organization in order ... Read More »

Hungary’s internet subscriptions up 12% in Q1 of 2015: KSH

BUDAPEST: The number of internet subscriptions in Hungary saw a year-on-year rise of 12% in the first quarter, reaching 7.4 million, with more than 93% of subscriptions being provided by seven service providers, Hungary’s Central Statistics Office said yesterday. Data from KSH suggest that private subscriptions accounted for 81% of the total during the period, with business subscriptions making up ... Read More »

Hungary’s April c/a surplus €493m halves from the previous month’s €955m: MNB

BUDAPEST: The current account surplus came to €493 million in April, halving from the previous month’s €955 million, with external financing capacity – the combined balance of the current and capital accounts – coming to a surplus of €750 million, €638 million down from March, preliminary figures from the National Bank of Hungary (MNB) published today reveal. The April trade ... Read More »

Hungary’s trade surplus reaches €929m in March 2015

BUDAPEST: Hungary saw a €929 million trade surplus in March, with exports rising by a y.o.y. 13% to €8.257 billion and imports rising by a y.o.y. 9.8% to €7.327 billion, the Central Statistics Office (KSH) confirmed in a second reading of data this morning. The surplus on the trade balance was €289 million more than in the same period a ... Read More »

Hungary’s IT Services to add 400 jobs

BUDAPEST: Service center operator IT Services Hungary, a member of T-Systems and owned by Deutsche Telekom, expects to make at least 400 new hires in Hungary this year, Minister of Foreign Affairs and Trade Péter Szijjártó said at a press conference today. IT Services Hungary currently employs more than 4,000 people in four cities in Hungary, the foreign minister said, ... Read More »

Hungary’s economy growth to remain 3% in 2015 to 2.2% in 2016

BUDAPEST: Hungary’s GDP growth is expected to remain strong white slowing from 3% in 2015 to 2.2% in 2016 due to waning stimulus of consumption and investment, OECD said in a forecast published today. OECD, therefore, revised its earlier projection in November 2014, when it foresaw 2.1% GDP growth for 2015 and 1.7% growth for 2016. Hungarian government debt-to-GDP ratio ... Read More »

Hungary’s industrial output climbs 6.3% in April 2015

BUDAPEST: Hungaryʼs industrial output saw a year-on-year increase of 6.3% in April, decelerated from 11.6% in the previous month, the Central Statistics Office (KSH) said in a first reading of data today. The increase was the same when adjusted for the number of workdays, KSH noted. Output increased by 7.6% in the first four months of this year compared to ... Read More »

Hungary’s Dentons advises Adris grupa on €550m sale

BUDAPEST: The chiefly Hungarian team of Dentons acted as advisors for Adris grupa in the sale of TDR and other entities within Adris Strategic Business Units Tobacco and Retail, including among others Istragrafika, Hrvatski duhani and the iNovine and Opresa retail chains, for a total enterprise value of €550 million. The transaction, which is currently subject to the approval of ... Read More »