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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 retail sales up by 4.4% in April 2015

BUDAPEST: Retail sales in Hungary saw a year-on-year rise of 4.4% in April, following a rise of 6.5% in March, preliminary data released by the Central Statistics Office (KSH) today reveal. Adjusted for calendar effects, the volume of sales rose by 1.6% in food, drinks and tobacco stores, by 7.8% in non-food retail trade and by 9.3% in automotive fuel ... Read More »

Hungary’s daily share turnover drops to HUF 9.2b in May

BUDAPEST: Daily share turnover on the Budapest Stock Exchange fell to HUF 9.2 billion in May, down 31.8% as compared to the previous month, the bourse said yesterday, news agency MTI reported. Spot market turnover exceeded HUF 191 billion for the month, including almost HUF 184 billion in share turnover. For January-May, daily share turnover came to HUF 10.4 billion, ... Read More »

Hungary’s commercial air traffic increases by 11.5% to 700,818 aircraft flying y.o.y.

BUDAPEST: Hungary’s air traffic increased to 700,818 aircraft flying in Hungarian airspace in 2014, up 11.55% from 2013, online business portal napi.hu reported yesterday. The highest figure ever recorded was due to geopolitical factors, namely the Ukrainian crisis and the opening of the Kosovo high altitude airspace, while the traffic at Budapest airport has shown moderate growth after several years ... Read More »

Hungary’s retail sales up by 4.4% in April 2015

BUDAPEST: Retail sales in Hungary saw a year-on-year rise of 4.4% in April, following a rise of 6.5% in March, preliminary data released by the Central Statistics Office (KSH) today reveal. Adjusted for calendar effects, the volume of sales rose by 1.6% in food, drinks and tobacco stores, by 7.8% in non-food retail trade and by 9.3% in automotive fuel ... Read More »

Hungary’s PMI climbs to 55.1 in May 2015

BUDAPEST: The seasonally-adjusted Purchasing Managers Index (PMI) in Hungary saw a rise to 55.1 points in May from April’s 51.2, the Hungarian Association of Logistics, Purchasing and Inventory Management (Halpim), which compiles the index, reported this morning. Halpim said that an index value above 50 shows expansion in the manufacturing sector, while a value under 50 signals contraction. The index ... Read More »

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

BUDAPEST: Hungary saw a €929 million trade surplus in March, with exports rising by a year on year 13% to €8.257 billion and imports rising by a year on year. 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 ... Read More »

Hungary’s PMI climbs to 55.1 in May 2015

BUDAPEST: The seasonally-adjusted Purchasing Managers Index (PMI) in Hungary saw a rise to 55.1 points in May from April’s 51.2, the Hungarian Association of Logistics, Purchasing and Inventory Management (Halpim), which compiles the index, reported this morning. Halpim said that an index value above 50 shows expansion in the manufacturing sector, while a value under 50 signals contraction. The index ... Read More »

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

BUDAPEST: Hungary saw a €929 million trade surplus in March, with exports rising by a year on year 13% to €8.257 billion and imports rising by a year on year. 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 ... Read More »

Hungary’s base rate may drop below 1.5%

BUDAPEST: The markets economists expect the National Bank of Hungary (MNB) to keep cutting the base rate, which is likely to bottom out well below the earlier expected 1.5%, Hungarian news agency MTI reported late yesterday. In a note on the central bankʼs widely anticipated 15 bp rate cut that brought the base rate to 1.65% the day before, analysts ... Read More »

Hungary’s base rate may drop below 1.5%

BUDAPEST: The markets economists expect the National Bank of Hungary (MNB) to keep cutting the base rate, which is likely to bottom out well below the earlier expected 1.5%, Hungarian news agency MTI reported late yesterday. In a note on the central bankʼs widely anticipated 15 bp rate cut that brought the base rate to 1.65% the day before, analysts ... Read More »

Hungary’s investment volume falls 4.5% in Q1 of 2015

BUDAPEST: Investment volume in Hungary saw a year-on-year decrease of 4.5% in the first quarter this year following a y.o.y. growth of 1.9% in the fourth quarter last year, with investments adding up to HUF 816.5 bln at current prices, data published by Hungary’s Central Statistics Office today reveal. KSH data suggest that investment output decreased in the majority of ... Read More »

Hungary’s base rate may drop below 1.5%: MTI

BUDAPEST: London-based emerging markets economists expect the National Bank of Hungary (MNB) to keep cutting the base rate, which is likely to bottom out well below the earlier expected 1.5%, Hungarian news agency MTI reported late yesterday. In a note on the central bankʼs widely anticipated 15 bp rate cut that brought the base rate to 1.65% the day before, ... Read More »

Hungary’s retail sales up 6.5% to HUF724b in March 2015

BUDAPEST: Retail sales in Hungary saw a year-on-year increase of 6.5% in March, with retail sales reaching HUF 724 billion during the month at current prices, in absolute terms, a second reading of data published today by the Central Statistics Office (KSH) reveals. The rise followed February’s year-on-year increase of 6.4%. Data from KSH suggest that food, drinks and tobacco ... Read More »

Hungary’s retail sales up 6.5% to HUF724b in March 2015

BUDAPEST: Retail sales in Hungary saw a year-on-year increase of 6.5% in March, with retail sales reaching HUF 724 billion during the month at current prices, in absolute terms, a second reading of data published today by the Central Statistics Office (KSH) reveals. The rise followed February’s year-on-year increase of 6.4%. Data from KSH suggest that food, drinks and tobacco ... Read More »

Hungary’s general Government deficit may rise 2.2% of GDP in 2016: MNB

BUSDAPEST: Hungaryʼs general government deficit, according to European Union accounting rules, could reach 2.2% of GDP next year, over the 2.0% target, the National Bank of Hungary (MNB) said in an assessment of the governmentʼs budget bill released today. The MNB said primary fiscal revenue could fall short of the target by the equivalent of 0.7% of GDP, raising the ... Read More »

Hungary’s tax office collects HUF 92b in back taxes in Q1-2015

BUDAPEST: Hungaryʼs National Tax and Customs Authority (NAV) collected HUF 92 bln in back taxes in the first quarter of this year, Hungarian daily Napi Gazdaság said today. The paper reported that NAV officials took action 472,000 times in the collection procedures, mostly freezing the bank accounts of delinquent taxpayers. The paper added that NAV sent 80,000 notifications to taxpayers ... Read More »

Hungary’s net general government borrowing 1.9% of GDP

BUDAPEST: According to preliminary financial data, net general government borrowing was HUF 610 bln in the twelve months leading up to the end of Q1, amounting to 1.9% of GDP including HUF 61 bln in financing requirement, or 0.8% of GDP, in the first quarter of 2015, the National Bank of Hungary (MNB) said today. Maastricht debt stood at 77.2% ... Read More »

Hungary’s Danubius Hotels Q1 loss narrows HUF 980M

BUDAPEST: An earnings report published late Friday shows that the Hungaryʼs Danubius Hotelsʼ first-quarter loss narrowed to HUF 980 million from the HUF 2.6 billion loss recorded in the same period a year earlier, on the back of  mostly unrealized foreign currency gains,. Revenue rose 2% to HUF 9.3 bln, but cost of materials and services outpaced the increase, climbing ... Read More »

Hungary’s Insurer’s premiums revenue up 2% in Q1 2015

BUDAPEST: Hungarian insurersʼ combined revenue from premiums rose 2% to HUF 247.8 bln in the first quarter of this year as compared to the same period last year, the Hungarian Insurers Association (MABISZ) said on Friday, Hungarian news agency MTI reported. Revenue from premiums on life insurance policies was down 2.6% at HUF 115.5 bln, while revenue from premiums on ... Read More »