Consumer spending is speeding up in Hungary
According to the rating agency, booming global consumer confidence suggests people will be willing to spend again as soon as shops, bars and restaurants reopen when coronavirus restrictions are eased.
“The combination of an unleashing of significant pent-up demand and overflowing excess saving will drive a surge in consumer spending across the globe as countries approach herd immunity and open up,” said Mark Zandi, chief economist at Moody’s Analytics.
The agency estimates that if consumers spend about a third of their excess savings, they will boost global output by just over two percentage points both this year and next.
Related news
K&H Analyst Commentary: Hungarian economy shows faint signs of life
In the second quarter, GDP grew by 0.2 percent year-on-year…
Read more >Waiting strategy – and no real confidence
In a quarterly online presentation by PwC Magyarország partner Gábor…
Read more >MNB Director: The central bank expects 4.7 percent annual inflation this year
Inflation is expected to exceed the central bank’s tolerance band…
Read more >Related news
OKSZ: Margin stop sweeps inflation under the transparent carpet
According to three-quarters of the population, food prices are rising…
Read more >The melon season is in full swing, the campaign has started
This year, a national campaign aimed at promoting one of…
Read more >Trump’s new tariff strategy could redraw the global map of coffee and cocoa trade
Tropical agricultural products such as coffee and cocoa may be…
Read more >