Consumers are in a better mood, but they are still also saving money

Hungarian consumers were more willing to part with their money in Q1 2015 than in Q4 2014. This trend is reflected in the fact that the Hungarian consumer confidence index climbed 3 points to 57. ‘When you covered your costs of living, what do you spend the rest of your money on?’ The European average was similar and the same activities were named in the same order. As for Hungary, 25 percent of consumers said they use this sum to pay back loans. 24 percent of Hungarian spend their money on renovating their homes, 22 percent named going on holiday, 21-21 percent answered purchasing new clothes and out of home entertainment. In Q1 2015 32 percent of Hungarians were saving money – 7 percentage points more than in Q4 2014. In the 4th quarter of last year 33 percent said at the end of the month they didn’t have money left to spend freely, in the 1st quarter of 2015 this proportion dropped to 27 percent.