Wage growth came in as expected in July. It seems likely that it will remain stable at this level in the near future. However, households still prefer to save rather than spend due to weak consumer confidence
Although real wage growth was strong in June, it has not yet returned to the double-digit levels seen in previous years. We expect negative perceptions of household finances to persist. Weak consumer confidence continues to be a problem for the economy
In our latest update, we reassess our Hungarian economic and market forecasts at a time when we are torn between optimism for better days ahead, the reality of the past three years, and the present, which is characterised by low confidence that is still declining. This time, pessimism has won
