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Consumer Confidence Rises In Hungary As Regional Differences In Household Spending Remain Strong


Consumer confidence in Hungary rose in the third quarter to its strongest level in five years, market researcher Nielsen said. However, there are still large regional differences in the country’s household spending, a fresh report by the Central Statistical Office revealed.

Hungary’s consumer confidence index rose by 6 points to 61 from the previous quarter, hitting its highest level since the second quarter of 2010, market researcher Nielsen said. Hungarians saying they were likely to make purchases rose to 21% from 17% and those who saw their own financial position positively climbed to 24% from 22%. Fully 14% said the employment outlook was good, up by one percentage point. The index draws on results of a global survey of more than 30,000 internet users.

Meanwhile data compiled by the Central Statistical Office (KSH) showed that Households in central Hungary, including Budapest, spent about 50% more on consumption in the first half of the year than households in the underdeveloped northeast of the country. The report reveals household expenditures on consumption in central Hungary averaged 89,055 forints (EUR 286) per capita per month in January-June, more than 50% over the 58,155 forints in the Northern Great Plains region.

For the country as a whole, household expenditures on consumption came to an average of 72,214 forints a month in the first half. Spending on food and soft drinks was the biggest item, accounting for 26.7% of the total. Second was spending on home maintenance — which includes actual and imputed rent — and household energy, accounting for 22.8%. Spending on transportation made up 11.1% of the total, telecommunications spending accounted for 6.6% and spending on culture and entertainment for 5.1%.

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