MNB expects reducing consumption beside declining incomes

In 2012, the stagnation of the economy is expected, growth only starts in 2013 – writes the Hungarian National Bank (MNB).

Domestic demand remains low, growth is dragged by exports. Parallel to the decline in the income of households, a moderate consumption is expected. Due to the uncertain economic outlooks, investment activity may be moderate. Loose labor market conditions are expected, as the increase of activity will be coupled by low-key labor demand. (Világgazdaság Online)