April 16th, 2009
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State research body says forint to firm by late summer

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Hungary’s forint will firm to around 286 to the euro by August and annual inflation will pick up to 3.7 percent as a value-added tax rise takes effect, Ecostat said on Wednesday.

The research arm of Hungary’s Central Statistical Office said the central bank’s base rate was likely to be lowered by 100 basis points to 8.50 percent.

Ecostat said annual industrial output would decline by 13.6 percent in August compared to an adjusted 25.4 percent drop in February.

Retail turnover will fall an annual 3.1 percent in August, it added.

Gross wages are seen rising 2.4 percent in August, with public sector wages dropping 2.5 percent and pay in the private sector climbing 4.5 percent.

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  1. Rolrox says:
    April 18, 2009 at 1:17 pm

    Are these people sharing data with the people who reported that FMCG sales dropped by 4% alone in 2008Q4? (http://www.realdeal.hu/20090416/hungarys-fmcg-market-saw-almost-4-drop-in-last-quarter-of-08#c1)?