OTP Bank and Policy Agenda's SME confidence index, which estimates confidence among Hungary's small and medium-sized enterprises (SME), continued to deteriorate dropping to 39.8% at the beginning of 2012 from 42.2% in the fourth quarter of 2011, reflecting deterioration of economic growth prospects. The SME managers have become more pessimistic, as 70% of them expect the economic situation to worsen in the next six months. Just over 10% of the respondents expect a slight improvement, as compared to 34% a year ago. Some 39% of SME managers say they expect their own financial situation to deteriorate, while 17% see even a sharp drop. The SME managers expect consumer prices to increase by 9.4% for the next twelve months. The survey was conducted among 700 SME managers. |
Hungary's investment funds had aggregate assets of HUF 3.657tn (EUR 11.98bn) as of end-February 2013, up by 3.2% m/m, MTI news agency reported citing data from the association of investment funds ... more
The number of employees in Hungary's public and private sectors fell for the tenth straight month in January 2013 declining by 0.6% y/y to 2.574mn, the statistics office informed. The decline ... more
The assembly of state-owned Hungarian Electricity Works (MVM) has approved the purchase of the local gas business of German power utility E.ON, Hungary AM reported, citing local daily Magyar ... more