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Ecostat Acceleration Indicator inches down in August
Thursday 14:32, August 26th, 2010

AKK cuts offer at T-bill auction because of scattered yields, not demand

16:25, Sep 2 | Hungary's Government Debt Management Center (AKK) cut its offer at an auction of twelve-month T-bills on Thursday not because of demand, but because of scattered yields in bids, AKK deputy-director László András Borbély told Econews.

Hungary needs to convince Commission extension of farmland ban is necessary

14:39, Sep 2 | Hungary will have to convince the European Commission that an extension of the country's ban on purchases of farmland by foreigners is necessary to prevent serious disturbances in the agriculture sector, Commission spokesman Roger Waite told MTI in Brussels on Wednesday.

Srengthening of Swiss franc represents growth risk

06:28, Sep 2 | The recent strengthening of the Swiss franc entails a growth risk for Hungary, and the forint's weakening raises the country's inflation risk and contributes to a rise in the percentage of non-performing loans in bank portfolios, National Bank of Hungary Spokesman András Simon told MTI on Wednesday.

Hungary's 51.9 PMI shows continued but slower growth in August

10:24, Sep 1 | Hungary's seasonally adjusted Purchasing Managers Index (PMI) fell to 51.9 in August from 53.5 in July, , the Hungarian Association of Logistics, Purchasing and Inventory Management (Halpim), which published the monthly index, announced on Wednesday.

Hungary June trade surplus €564m, little changed from 1st reading

09:17, Sep 1 | Hungary had a €564 million trade surplus in June 2010, up from a downward revised €398 million trade surplus in May and a €317 million surplus a year earlier, the Central Statistical Office (KSH) said in on Wednesday. The figure is down just €3 million from a first reading published on August 6.

AKK raises sale as demand jumps at three-month T-bill auction

16:40, Aug 31 | The Government Debt Management Agency (AKK) sold HUF 60 billion of three-month discount T-bills at an auction on Tuesday, raising its sales as oversubscription rose further. Despite continued strong demand, yields rose for the second auction in a row.

Gov't aims to keep biggest Hungarian-owned companies in Hungarian hands

16:38, Aug 31 | The government aims to preserve the local ownership rate in big companies which are majority Hungarian owned, National Development Minister Tamás Fellegi said answering a question at a meeting with foreign diplomats in Budapest on Tuesday.

Ban brings signing of new forex loan contracts to practical halt

15:53, Aug 31 | The signing of new foreign currency-based retail mortgage loans by Hungarian banks came to a practical halt in July as the result of a government ban on such borrowing, fresh data published by the National Bank of Hungary (MNB) on Tuesday show.

Companies show continued preference for euro-based loans in July

15:29, Aug 31 | The value of euro-based loans Hungarian banks signed with corporate clients in July exceeded the value of forint loans for the second month in a row, fresh data published by the National Bank of Hungary (MNB) on Tuesday show.

Institutional investors place 4% more with asset managers, investment funds in Q2

14:47, Aug 31 | Hungarian investment funds and assets managers held HUF 9,200 billion for institutional investors at the end of Q2, 3.96% more than three months earlier, the Hungarian Association of Investment Funds and Asset Managers (BAMOSz) said on Tuesday.

Analysts remain pessimistic about Hungary's investment prospects

14:15, Aug 31 | Second-quarter investment data published on Tuesday morning came as no surprise but were still disappointing, analyst told MTI. They do not expect investment volume to improve significantly over the coming quarters.

Households remain net borrowers in HUF, repayers of FX loans in July

13:51, Aug 31 | Hungarian households again borrowed more than they repaid in forints and repayed more than they borrowed in foreign currencies in July, a pattern unbroken since late spring of 2009, data from the National Bank of Hungary published on Tuesday showed. Excluding exchange-rate and seasonal effects, households have been net borrowers each month since last September except for January.

Hungary producer price rise slows on month but picks up yr/yr in July

11:20, Aug 31 | The rise in Hungary's industrial producer prices slowed to 0.2% in July from the previous month but the twelve-month rise picked up to 8.7%, the Central Statistical Office (KSH) said on Tuesday.

Hungary investment volume drops 4.9% yr/yr in Q2

10:49, Aug 31 | Investment volume in Hungary dropped 4.9% year-on-year in the second quarter of 2010, and was down by a seasonally adjusted 0.6% from Q1, the Central Statistical Office (KSH) said on Tuesday. Investment volume has been declining yr/yr for the tenth quarter in a row, and a quarter-on-quarter rise in Q1 proved temporary.

Hungary gov't submits bill on implementation of 2009 budget

13:19, Aug 30 | 

PM says government must take initiative in foreign policy and in talks with IMF

11:37, Aug 30 | 
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MNB exchange rates
Date: September 2, 2010
1 AUD 201.53 HUF       100 JPY 263.86 HUF    
1 CAD 211.05 HUF       1 NOK 36.05 HUF    
1 CHF 219.36 HUF       1 PLN 71.73 HUF    
1 CZK 11.52 HUF       1 RON 66.73 HUF    
1 DKK 38.21 HUF       1 RUB 7.23 HUF    
1 EUR 284.49 HUF       1 SEK 30.56 HUF    
1 GBP 341.38 HUF       1 USD 221.88 HUF    
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EU economy and finance chief says Hungary should continue fiscal consolidation

11:05, Aug 30 |  Hungary should continue fiscal consolidation and bring the country's budget deficit to below 3% of GDP in 2011 under the European Union's excessive-deficit procedure, European Commissioner for Economic and Financial Affairs Olli Rehn told the weekly newspaper Vasárnapi Hírek in an interview published on Sunday.  

GKI forecasts 1% GDP growth in Hungary this year

06:54, Aug 30 | Economic-research company GKI has reconfirmed its earlier prediction that Hungary's GDP will grow about 1% in 2010, GKI reported in an analysis prepared jointly with Erste Bank.