consumer behavior
March 08, 2010, 09:44 CET
Internet subscriptions increase 20.4% in year to end of 2009
There were 2.783m internet subscriptions in Hungary at the end December 2008, up 7.3pc from the end of September and up 20.4pc in twelve months, the Central Statistics Office (KSH) reported on Tuesday. The rise came after a 26.1pc increase... [read complete entry]
March 04, 2010, 02:54 CET
Bad economic times lead to raging diaper price wars
A price war has broken out among brand-name diaper manufacturers in Hungary after consumers switched to cheaper store brands as a result of the economy continuing to be down in the dumps, napi.hu reports. Bad jokes aside, prices dropped by... [read complete entry]
March 03, 2010, 10:21 CET
Subscriber numbers at biggest cable, satellite and IPTV companies climb 17,000
Hungary's 14 biggest cable, satellite and internet television companies had 2,489,000 subscribers at the end of December, 17,000 more than a month earlier, the National Telecommunications Office (NHH) told MTI on Tuesday. Magyar Telekom, Invitel, UPC, FiberNet, DIGI, PR TELEKOM,... [read complete entry]
March 03, 2010, 10:01 CET
Hungary among TOP 50 destinations for Chinese tourists
Hungary has been featured for the first time on a TOP 50 list of the most popular destinations of Chinese tourists compiled by the Chinese publication Best of Tourism, state tourism agency Magyar Turizmus. Hungary took 47th place among the... [read complete entry]
March 01, 2010, 09:40 CET
One million Hungarians see James Cameron's Avatar
James Cameron film Avatar reached another milestone when the one millionth cinema ticket in Hungary was booked on Saturday. No film had drawn more than a million spectators to Hungarian cinemas since the first Harry Potter movie in 2001. Hungary's... [read complete entry]
February 25, 2010, 10:49 CET
Hungary mobile internet subscriptions grow to 946,000 in January
The number of mobile internet subscriptions in Hungary rose 13,000 to 946,000 in January, with the number of active mobile internet subscriptions growing 21,000 to 736,000, the National Telecommunications Authority (NHH) said on Wednesday. In January 2009, the number of... [read complete entry]
February 19, 2010, 10:21 CET
Motorists saved billions on compulsory insurance in 2009
One out of four, or nearly one million, motorists changed compulsory vehicle insurance polices last year, the insurers association Mabisz revealed yesterday. Around 500,000 customers cancelled and then renewed their contracts to benefit from lower rates. Of the 1.5 million... [read complete entry]
February 18, 2010, 10:30 CET
Hungary broadband ADSL, cable subscription number rises 230,000 in 2009
The number of broadband ADSL and cable subscriptions rose 230,000 or 15pc in Hungary in 2009, the National Communications Authority (NHH) said on Wednesday. The number of broadband ADSL and cable subscriptions grew 25,000 in December, totalling 1.742m at the... [read complete entry]
February 18, 2010, 10:26 CET
Hungary active mobile subscription number grows 19,000 in January
The number of active mobile subscriptions in Hungary grew 19,000 to 10.95m and the total number of mobile phone subscriptions rose 42,000 to 11.834m in January, the National Communications Authority (NHH) reported on Wednesday. The number of mobile phone subscriptions... [read complete entry]
January 26, 2010, 09:58 CET
Malév passenger numbers climb 6% in 2009
Hungarian national carrier Malev's passenger numbers rose 6pc to 3.3m in 2009, and growth in the first quarter of 2010 is expected to be in the double digits, Malev told MTI on Monday. Malev's market share of scheduled and charter... [read complete entry]
January 25, 2010, 10:33 CET
Business-consumer confidence improves in January
Economic think tank GKI's combined consumer and business confidence index rose to -23.3 points in January from -25.4 points in December, returning to its level in October of last year, GKI said in the gauge supported by the European Union.... [read complete entry]
January 22, 2010, 02:31 CET
Hungarians sitting on sizable fortune in old forint banknotes
The Hungarian population has approximately Ft 15 billion (€55 million) worth of expired banknotes which can still be exchanged at face value in banks, penzcentrum.hu reports. According to the Hungarian National Bank, people are not in any rush to exchange... [read complete entry]
January 21, 2010, 09:57 CET
Hungary active mobile internet subscriptions grow 70pc to 715,000 in 2009
The number of active mobile internet subscriptions grew more than 70pc in Hungary in 2009, reaching 715,000 in December, the National Telecommunications Authority (NHH) told MTI on Wednesday. The total number of mobile internet subscriptions rose to 933,000 in December... [read complete entry]
January 19, 2010, 09:51 CET
Hungary mobile phone subscriptions falls over 400,000 in 2009
The growth of Hungary's mobile phone market was interrupted last year as the total number of mobile phone subscriptions fell almost 432,000 from twelve months earlier to 11,792,000, however, the number of post-paid subscriptions rose by 363,000, the National Telecommunications... [read complete entry]
January 15, 2010, 10:47 CET
Hungarians expect financially bleak future, survey reveals
The majority of Hungarians expect a bleak future with their financial situation worsening over the next 12 month, a survey by pollster Tarki revealed on Thursday. Of the whole adult sample of the population, 42 percent of respondents said their... [read complete entry]
January 12, 2010, 04:06 CET
Record number of Hungarians flock to Internet in January
The first workday of 2010 saw a record 3,489,000 Hungarians online, while several leading websites measured record number of visitors. According to kreativ.hu, which summarized data collected by Medián webAUDIT, iWiW was visited by a record 1.36 million Hungarian internet... [read complete entry]
January 12, 2010, 09:16 CET
After collapse, Hungary's vehicle sales seen rising more than 7% in 2010
Hungary's motor vehicle market is expected to stabilise from the second half of 2010, and the Hungarian Association of Vehicle Importers (MGE) sees full-year sales rising 7.4pc to 85,200, chairman Peter Erdelyi said at a press conference on Monday. The... [read complete entry]
January 11, 2010, 10:49 CET
Guest nights drop 10.7% year-on-year in November
Guest nights spent at commercial accommodations by Hungarian and foreign tourists fell 10.7pc to 1,003 m in November from a year earlier, the Central Statistics Office (KSH) said on Monday. The fall widened from October when it sank 8.2pc year-on-year... [read complete entry]
January 08, 2010, 11:22 CET
Consumer confidence stabilises, GfK-Corvinus survey shows
GfK Hungaria and Corvinus University's consumer confidence index measured 146.1 points in Q4, little changed from 146.4 points in Q3, GfK told MTI on Thursday. The index bottomed out at 114.5 points in March 2009. The consumer expectations index fell... [read complete entry]
January 08, 2010, 11:21 CET
Wizz Air passenger numbers grow one-third in 2009
Hungarian low-fare airline Wizz Air carried 7.8m passengers in 2009, 33pc more than in the previous year, the company told MTI on Thursday. This year, Wizz Air plans to carry more than 10m passengers. Wizz Air opened its eleventh base,... [read complete entry]
January 08, 2010, 11:15 CET
Hungarian business-consumer confidence index rises in December
Ecostat's combined consumer and business confidence index rose two percentage points to 74.7pc in December compared to November, but was still under the 77-78pc level in September and October, Ecostat told MTI on Thursday. Ecostat's TOP 100 measure of confidence... [read complete entry]
January 06, 2010, 10:56 CET
Recession taking big bite out of Hungarians' travel budgets
Hungarians spent 14-18pc less time and money on tourism and travel in January-September, the Central Statistics Office (KSH) said in a summary on Monday. KSH said the decline in real wages and the overall fall in retail consumption were reflected... [read complete entry]
January 06, 2010, 09:58 CET
Number of Hungarians behind on loan repayments falls in Q3
The number of Hungarian borrowers behind on loan repayments rose 26.2pc in Q1-Q3, but inched down 0.3pc in Q3 to reach 1,677,000 at the end of September, or 27.7pc of all lending contracts, a report by financial market regulator PSZAF... [read complete entry]
January 05, 2010, 08:46 CET
Car sales by Suzuki Hungary collapse in 2009, but firm remains market leader
Magyar Suzuki sold 8,112 vehicles in Hungary in 2009, less than one-third of the 24,864 sold in 2008, although the company managed to hold its position as market leader for the 13th year in a row, Magyar Suzuki told MTI... [read complete entry]
January 04, 2010, 09:58 CET
Survey finds Hungarians expect tough 2010
More than 40 percent of Hungarians expect a tough year in 2010, according to a Szonda Ipsos survey for public television released on Friday. Of the 500 people asked in December, 41 percent said that their own situation and that... [read complete entry]
January 04, 2010, 09:50 CET
Household consumption in Hungary plunged 9% in 2009
Household consumption in Hungary fell by around 9 percent year on year, and no improvement is in sight, national daily Nepszava reported on Thursday, citing a survey by research firm GfK Hungaria. GfK chief executive Akos Kozak said that that... [read complete entry]
December 30, 2009, 10:19 CET
Nielsen survey finds job security topping Hungarians' concerns
Job security is the biggest worry among Hungarians, according to a survey by market researcher Nielsen. In all, 23% of respondents mentioned jobs as their biggest concern, followed by their children’s education and career, as well as rising energy prices,... [read complete entry]
December 29, 2009, 11:10 CET
Hungary mobile market expected to continue shrinking in 2010
Hungary's mobile telecommunications market is likely to continue to contract in 2010, albeit at a slower rate than the 5-8pc drop in 2008, the heads of the country's three mobile service providers told MTI. Hungary's mobile telecommunications market could contract... [read complete entry]
December 22, 2009, 09:53 CET
LCD TVs, netbooks and GPS locators most popular Hungarian gadget gifts for '09
Hungarians are buying LCD TVs, GPS machines and netbooks for their loved ones for Christmas, while demand for last year's favorite gift, game consoles, has fallen, writes IT news portal kutyu.hu, based on a top list compiled by depo.hu. "While... [read complete entry]
December 21, 2009, 10:34 CET
Consumer, business confidence indexes tick up in December
Economic research company GKI's combined business and consumer confidence index rose to -25.4 points in December from -27.5 points in November, rising to a level last reached in October 2008, the first month after the start of the crisis. The... [read complete entry]
December 15, 2009, 08:38 CET
Study finds Hungarian shoppers giving less, borrowing more this Christmas
This year, 24% of Hungarians are buying Christmas gifts using loans, while this percentage was 12% in 2008, writes nol.hu, based on a study by LG Electronics. According to findings of the study, Hungarians who are buying electronics for Christmas... [read complete entry]
December 08, 2009, 08:08 CET
Survey shows Hungarians likely to spend less this Christmas, more on internet
Fewer Hungarians are planning to buy presents this year and those who do will spend less, according to a Kirakat-Ipsos survey published on Monday. Last year 81 percent of the population bought Christmas presents; this year only 76 percent are... [read complete entry]
December 07, 2009, 12:30 CET
Cash-strapped consumers and companies holding back on tens of billion in payments to energy utilities
While many in recession-wracked Hungary are continue to treat themselves to home-delivered meals every day, others are apparently having trouble keeping current with their household energy bills. According to napi.hu, individual consumers and companies have built up tens of billions... [read complete entry]
December 07, 2009, 12:08 CET
Crisis fails to dent Hungarians' appetite for delivered meals
Despite earlier expectations, Hungary's market for ready-to-eat delivered meals has held up throughout the ongoing recession, reports business daily Világgazdaság. Currently, an estimated 100,000-200,000 such meals are delivered daily to customers across the country, with 80% of the market divided... [read complete entry]
December 04, 2009, 07:30 CET
Business, consumer confidence indexes fall again in November
Economic research company Ecostat's combined consumer-business confidence index fell 5 percentage points to 72.6pc in November from the previous month as both business and consumer sentiment worsened, Ecostat said on Friday. The TOP-100 measure of confidence at Hungary's biggest hundred... [read complete entry]
December 02, 2009, 10:50 CET
Number of fixed-line phones falls to 3 million in Hungary
The number of landline telephone connections in Hungary fell to 3,080,000 at the end of October or 30.75 lines per hundred people, the National Telecommunications Authority (NHH) said on Monday. Landline penetration fell to 61.67pc of households by the end... [read complete entry]
December 02, 2009, 10:48 CET
Broadband ADSL, cable subscriptions top 1.7 million
The number of broadband ADSL and cable subscriptions in Hungary reached 1,724,000 at the end of October, 63,000 more than a month earlier and up 217,000 from twelve months earlier, the National Telecommunications Authority (NHH) said on Monday. The number... [read complete entry]
December 02, 2009, 10:16 CET
Hungary's home loan market shrinks in October
The seasonally adjusted value of households’ new forint loans for house purchases fell in October, the National Bank of Hungary (NBH) said in its statistical release on Monday. The value of new euro loans also fell and that of new... [read complete entry]
November 24, 2009, 09:12 CET
Hungarian consumers increasingly using bank cards, but cash remains king
While three or four years ago 85% of bank card transactions in Hungary involved withdrawals of cash from ATMs, in 2008 the percent of payment transactions reached 56%, an executive of the local unit of Raiffeisen Bank told napi.hu. According... [read complete entry]
November 23, 2009, 09:16 CET
Halt to improvement in key Hungarian business-consumer confidence index
GKI's combined consumer-business confidence index fell to -27.5 in November from -26.8 in October, halting a six-month rise in the index, market-research company GKI reported. The index stood at -33.3 in November 2008. GKI's consumer confidence index fell to -51.9... [read complete entry]
November 16, 2009, 08:18 CET
Consumer confidence in Hungary makes significant rise in October
Hungary's Consumer Confidence Index rose to 58 points in October from 52 points in April, market-research company Nielsen told MTI on Thursday. Nielsen said that Hungary's rise conformed to the worldwide trend, noting that the company's Global Consumer Sentiment Index,... [read complete entry]
November 02, 2009, 12:39 CET
Consumer confidence up, business sentiment down in October
Economic research company Ecostat's combined consumer-business confidence index fell 0.5 percentage point to 77.6pc in October from the previous month as households were more optimistic, but business sentiment worsened, Ecostat said on Monday. The index bottomed out at 63.1pc at... [read complete entry]
October 30, 2009, 10:59 CET
Survey finds Hungarians struggling to save money
About three-fourths of Hungarians say it is difficult to make savings in the current economic environment, and 20pc think it is not worth setting aside money today, a survey by GfK Hungaria commissioned by OTP Bank shows. About 80pc of... [read complete entry]
October 29, 2009, 10:10 CET
Ecostat says "acceleration" index suggests renewed optimism
The Acceleration Indicator (GYIA), a leading indicator calculated from ten different economic and financial indicators compiled by research institute Ecostat and business daily Vilaggazdasag, grew 0.18pc in October. GYIA fell 0.36pc in September, wiping out increases in the previous two... [read complete entry]
October 27, 2009, 10:07 CET
Problem home loans rise in Hungary, but losses remain minor
The proportion of substandard, doubtful and loss home loans in the portfolios of Hungarian lending institutions doubled in the twelve months to the end of June, though still accounting for just 2pc of all lending stock, while the proportion of... [read complete entry]
October 27, 2009, 10:05 CET
Raiffeisen to close 20 branches in Hungary
Raiffeisen Bank will close 20 of its branches in Hungary on Friday, the bank told MTI on Monday. All of the clients at the branches were informed earlier of the closures, Raiffeisen Bank said. Raiffeisen Bank told MTI in mid-August... [read complete entry]
October 27, 2009, 09:35 CET
Retail trade in Hungary continues to stink, except for perfume
The decrease in retail trade sales worsened further in August, writes napi.hu. Turnover at retail stores in the first eight months of 2009 was 4.2% lower than in the same period last year, and in August, 7.2% lower than in... [read complete entry]
October 15, 2009, 10:33 CET
Mortgage bank FHB launches home price index
FHB Mortgage Bank on Wednesday presented a new Home Price Index based on data on transactions since 1998. The quarterly index is based on data from some 800,000 transactions in about 3,000 communities, said FHB Mortgage Bank deputy-CEO Laszlo Harmati.... [read complete entry]
October 13, 2009, 09:22 CET
National bank, bankers' association discuss proposed forex lending curbs
National Bank of Hungary governor Andras Simor and Hungarian Bank Association chairman Tamas Erdei met on Monday to discuss restrictions on foreign currency-denominated lending proposed by the central bank in the previous week, the NBH said late in the day.... [read complete entry]
October 12, 2009, 09:33 CET
Cinema attendance rises despite economic crisis
Cinemas in Hungary sold 6.95m tickets in the first eight months of 2009, an increase of 142,000 from the first eight months of 2008, the business daily Napi Gazdasag reported on Friday. Revenue from the ticket sales reached HUF 7.35bn... [read complete entry]
October 08, 2009, 11:25 CET
Retailer borrowers increasingly drawn to forint-based loans
The proportion of new foreign currency-denominated retail loans at Hungarian banks fell sharply from 80 percent in 2008 to about 40 percent in the second quarter this year, according to National Bank of Hungary (NBH) data. The decline is not... [read complete entry]
October 06, 2009, 09:41 CET
Consumer confidence index falls slightly in third quarter
GfK Hungaria and Corvinus University's consumer confidence index fell slightly to 146.4 points in the third quarter from 148.5 points in Q2, but was still well over a low of 114.5 points reached at the end of Q1. The consumer... [read complete entry]
October 05, 2009, 10:30 CET
New car sales continue plunging in September; just 3,200 units sold
New car sales in Hungary plunged 76pc to 3,200 in September from the same month a year earlier, after dropping more than 78pc in the previous month, the business daily Napi Gazdasag reported, quoting figures from Datahouse Kft. This was... [read complete entry]
October 02, 2009, 10:31 CET
Hungarian banks could write off more than Ft 100 billion in retail mortgages
Hungarian banks could have to write off HUF 118bn of their retail mortgage loans, or about 2pc of their combined lending portfolio at the end of 2008, assuming current macroeconomic trends continue, the National Bank of Hungary said in an... [read complete entry]
September 25, 2009, 11:13 CET
Construction of just 25,000 new residential units expected in Hungary in '09
Only 24,000-26,000 new flats will be built in Hungary this year, whereas the ideal would be around 40,000, according to experts polled by inforadio.hu. Lakásvásár Médiacsoport President László Borsi said this number would mean that new flats would account for... [read complete entry]
September 22, 2009, 09:59 CET
Drop in real wages seen trailing plunge in Hungary's GDP
Real wages in Hungary may fall by 3% to 3.5% by the end of 2009, a figure that is "not tragic" given a plunge in GDP of more than twice this size, noted economist Mária Zita Petschnig in a recent... [read complete entry]
September 22, 2009, 09:41 CET
Only one current Budapest shopping mall project to be completed this year
Only one of five shopping malls currently planned for the Budapest market is likely to be completed this year, writes napi.hu. While the portal reports that Allee, located at the site of the former Budai Skála department store, will be... [read complete entry]
September 22, 2009, 09:14 CET
Perennial loss-maker Electro World to open three new stores in Hungary
Electro World will open three more stores in Hungary by the end of this year, hoping to finally turn a profit, writes napi.hu, based on a print-only story in Világgazdaság. The chain, which has been around for seven years and... [read complete entry]
September 18, 2009, 11:13 CET
New car sales plunge more than 75% in August in Hungary
New car sales in Hungary plunged 77.4pc to 2,518 in August from the same month a year earlier, after dropping almost 73pc in the previous month, auto industry research company Jato Dynamics said on Monday. The August drop was bigger... [read complete entry]
September 18, 2009, 11:10 CET
More Hungarians make online purchases, survey finds
About 78pc of Hungarians who use the internet regularly said they had made online purchases, according to a survey by Mai Piac and KutatoCentrum, up from 62pc in a survey a year earlier, the companies told MTI. The biggest group... [read complete entry]
September 18, 2009, 11:08 CET
Recession drives Hungarian consumers to "mobile shops"
As the recession has forced a number of small shops to close down throughout western Hungary, more than 500 new mobile shops have started operating, business daily Napi Gazdasag said on Friday. Mobile shops had previously only targeted small villages... [read complete entry]
September 11, 2009, 11:46 CET
Inflation eases to 5% in August as weak demand trumps VAT hike
Annual consumer price inflation in Hungary eased to 5.0 percent in August after recording 5.1 percent in July, the Central Statistical Office (KSH) said on Friday. Weak demand kept retailers from passing on the effects of a five-percent hike in... [read complete entry]
August 31, 2009, 10:22 CET
Tea sales soar by 10% in Hungary
Retail tea sales in Hungary rose 10pc to HUF 12bn in the twelve months to July from the previous twelve-month period, markets research company Nielsen said. In volume terms, tea sales inched up 3pc to 1,600 tonnes during the period,... [read complete entry]
August 19, 2009, 10:17 CET
Survey finds almost 90% of Hungarians consult Internet before buying
Almost 90pc of Hungarian customers browse the Internet before they buy a product, while 50pc visit price-comparison websites and 44pc visit online auction websites, a Google-TNS Infratest survey of customers between the ages of 18 and 60 reveals. Only 3pc... [read complete entry]
August 13, 2009, 10:15 CET
Gov't vows to help 32,000 delinquent borrowers
Hungary has recorded 32,000 delinquent mortgage borrowers and 3,000 foreclosures since the start of the financial crunch last September, the government spokesman told MTI on Wednesday. The government is trying to find solutions to protect borrowers, Domokos Szollar said, adding... [read complete entry]
August 13, 2009, 09:52 CET
Hungary's broadband cable, ADSL subscriptions up 12% in year to June
The number of broadband cable and ADSL internet subscriptions rose by 176,000 to 1,623,000 in the twelve months to the end of June, telecommunications regulator NHH said on Wednesday. The number of subscriptions rose by 23,000 from the end of... [read complete entry]
August 13, 2009, 09:51 CET
Losses mount at online bookseller Bookline.hu
Hungarian online bookseller Bookline.hu racked up a first-half loss of HUF 116m, more than double losses in the same period a year earlier, as rising costs outpaced higher revenue, the company's Hungarian Accounting Standards report for the period, published late... [read complete entry]
August 11, 2009, 10:27 CET
Hungarians increasingly unable to pay utility bills
An increasing number of Hungarians are unable to pay their gas bills and total arrears are currently up at 22 billion forints (EUR 82.4m), daily Nepszava reported on Tuesday. A year ago, unpaid gas bills by members of the public... [read complete entry]
August 11, 2009, 09:53 CET
Premium income for Hungarian insurers slips 13% in first half of 2009
Hungarian insurers' revenue from premiums fell 13.3pc to HUF 410.1bn in the first half from the same period a year earlier, data published on the website of the Hungarian Insurers Association (MABISZ) show. Revenue from premiums on life insurance policies... [read complete entry]
August 11, 2009, 09:31 CET
VAT hike pushes Hungary's consumer price inflation to 5.1% in July
Twelve-month consumer price inflation was 5.1pc in July after 3.7pc in June as Hungary's main VAT rate rose from 20pc to 25pc from July 1, the Central Statistical Office (KSH) said on Tuesday. Consumer prices rose 1.3pc in July from... [read complete entry]
August 07, 2009, 09:50 CET
Number of new cars on Hungary's roads plunges 72% in July
A total of 3,805 new cars received license plates in Hungary during the month of July, down 72.7pc yr/yr, the business daily Vilaggazdasag reported on Thursday, citing statistics from automotive-data company Jato Dynamics. The Jato Dynamics data showed that the... [read complete entry]
August 03, 2009, 10:25 CET
Majority of Hungarians unable to save money, survey finds
About 60pc of Hungarians cannot make any savings in an average year, a survey of eleven countries in Europe by life insurer Aviva shows. The rate in Hungary is not as high as that in Romania or Poland, where 70... [read complete entry]
August 03, 2009, 10:23 CET
Hungarian borrowers rush to take advantage of expiring home loan subsidies
The value of new retail consumer loan contracts signed by Hungarian banks changed little in June compared to May, but the value of new forint home loan contracts jumped as borrowers rushed to take advantage of state subsidies before they... [read complete entry]
August 03, 2009, 10:22 CET
Value of new corporate loans in Hungary rises in June
The value of new lending contracts Hungarian banks signed with non-financial companies rose for both forint and euro-based loans in June compared to May, fresh data from the National Bank of Hungary (NBH) shows. The value of new forint loan... [read complete entry]
July 30, 2009, 10:26 CET
Number of building permits drops almost 20% in January-June in Hungary
The number of home building permits fell 19pc yr/yr to 17,003 in the first half of the year, however the number of new homes put on the market rose 16.3pc to 13,080, the Central Statistical Office (KSH) said on Thursday.... [read complete entry]
July 28, 2009, 09:54 CET
Hungarian market watchdog investigating home loans for defaulters
Hungary's market watchdog PSZÁF said it is investigating several companies offering refinanced home loans to people who have defaulted on their initial mortgages, writes vg.hu. According to the PSZÁF, most of these lenders take out loans from big banks and... [read complete entry]
July 27, 2009, 10:20 CET
Contraction in retail sales seen accelerating in Hungary
Data published early Friday showing retail sales in Hungary contracted at a faster rate in May came as little surprise and augur an accelerated decline in the coming months, analysts told MTI. Retail sales volume in Hungary continued to contract... [read complete entry]
July 27, 2009, 09:44 CET
First-half surge in number of names on retail borrower "blacklist"
The number of retail borrowers on a "blacklist" of those who are or were behind on payments by at least 90 days rose to 716,000 in the first half of 2009 from 618,000 at the end of 2008, BISZ, which... [read complete entry]
July 24, 2009, 11:05 CET
Retail sales in Hungary down 4.2% year-on-year in May, continuing long decline
Retail sales volume in Hungary fell a calendar-year-adjusted 4.2pc yr/yr in May 2009, the Central Statistical Office (KSH) reported on Friday. The fall was slightly bigger than the 4.1pc drop registered in April. Retail sales dropped 0.5pc from April according... [read complete entry]
July 22, 2009, 10:10 CET
Half of Hungarians now regular internet users
Half of Hungarian adults use the internet at least once a month, a survey prepared by the GfK group in seventeen Central and Eastern European countries in May shows. The number of internet users in Hungary grew by 11 percentage... [read complete entry]
July 20, 2009, 03:29 CET
Cinema revenue, attendance up in Hungary despite economic crisis
Cinemas in Hungary generated ticket-sales revenue of HUF 3.99bn (EUR 14.57m) in the first five months of 2009, up 12pc from the first five months of 2008, while attendance increased 4pc yr/yr to 3.88m during the period, the business daily... [read complete entry]
July 16, 2009, 10:18 CET
Survey shows Hungarians informed, worried about financial crisis
Hungarians are generally familiar with the impacts of the current economic crisis and, despite the general bad mood, they feel with those who are especially hit by hardships, a recent Median survey covered by national daily Nepszabadsag said on Thursday.... [read complete entry]
July 15, 2009, 08:05 CET
Fujitsu says notebook PC sales in Hungary to plunge in second half of '09
Fujitsu Technology Solutions' sales of notebooks and netbooks in Hungary could fall as much as 30pc in the second half of the year, managing director Gabor Poros said at a press conference on Tuesday. It is a serious struggle even... [read complete entry]
July 14, 2009, 09:39 CET
New car sales plunge 52% in first half of 2009; fears for remainder of year
Hungary's new car sales dropped dramatically in January-June compared to the same period in 2008 and the outlook for the second half of 2009 remains gloomy, business daily Vilaggazdasag said on Tuesday. In the first half of the year 39,429... [read complete entry]
July 13, 2009, 11:01 CET
Quick-loan firm Athlon files for bankruptcy as sector comes under increasing scrutiny
Hungarian quick-loan company Athlon Penzugyi initiated bankruptcy procedures against itself on July 8, the business daily Napi Gazdasag wrote on Monday. Citing financial-market regulator PSZAF spokesman Istvan Binder, the newspaper reported that PSZAF is currently conducting an investigation of the... [read complete entry]
July 09, 2009, 09:47 CET
Hungarian mineral water market getting flat, market researcher says
Hungary's mineral water market is stagnating, both in terms of value and volume, according to a study by market research company Nielsen. Mineral water sales in Hungary reached HUF 45bn, or 890m litres, in the twelve months to May, level... [read complete entry]
July 07, 2009, 09:12 CET
Nielsen says Hungary's consumer confidence improved in June
Consumer confidence in Hungary improved in June from the previous months, the latest measure of sentiment by market research company Nielsen shows. Nielsen's consumer confidence index measured 45 points in June, up from 40 in both May and April, and... [read complete entry]
July 01, 2009, 10:36 CET
Retail lending stagnates in Hungary in May as consumer loans drop
The value of new retail lending contracts signed by Hungarian banks changed little in May compared to April but was still just a fraction of the amount before the worsening of the global financial and economic crisis in the autumn,... [read complete entry]
June 29, 2009, 10:10 CET
Study puts Hungary 22nd in EU for purchasing power
Hungary's GDP per capita expressed in levels of purchasing power was 62.9% of the average of the 27 EU members in 2008, putting the country in 22nd place, according to data released by Eurostat. As regards the EU member-states, Luxembourg... [read complete entry]
June 25, 2009, 10:26 CET
Retail sales fall in April 4.1% year-on-year
Retail sales volume in Hungary fell an annual 4.1 percent in April 2009 after dropping 3.6 percent in March, according to calendar year adjusted data released by the Central Statistical Office (KSH) on Thursday. Retail sales dropped 0.3 percent from... [read complete entry]
June 11, 2009, 08:29 CET
Hungary's retail market for households products, cosmetics up 3% despite crisis
Retail turnover in Hungary of household products and cosmetics grew about 3pc to almost HUF 300bn in the twelve months to April, market research company Nielsen told MTI on Wednesday. Sales of paper towels, toilet cleaner, dish detergent and toilet... [read complete entry]
June 10, 2009, 10:13 CET
Growth in Internet subscriptions comes to near halt in Q1
There were 2.319m internet subscriptions in Hungary at the end of March 2009, up 0.3pc from the end of last year and up 15.8pc in twelve months, the Central Statistics Office (KSH) reported on Wednesday. Wireless internet subscriptions fell 4.4pc... [read complete entry]
June 03, 2009, 08:25 CET
Ecostat confidence indices improve in Q1
Ecostat's combined consumer and business confidence index has improved in the last three months, Ecostat said on Tuesday. Ecostat's TOP 100 index, a measure of confidence at Hungary's hundred biggest companies, rose to 64.5 percent in May, 4 percentage points... [read complete entry]
June 03, 2009, 08:13 CET
Indebted Hungarians having increasing problems paying back loans
The number of Hungarian companies included on a list of borrowers 30-90 days behind on repayments rose one third to 24,000 in the twelve months to the end of March, BISZ, which operates the Central Credit Information System (KHR), said... [read complete entry]
May 28, 2009, 10:46 CET
Combined business-consumer confidence index rises for first time since October
GKI's combined business-consumer confidence index climbed 5.9 points to minus 40.3 points in May, rising for the first time since October, the economic think tank said on Wednesday. The index, prepared with the support of the European Union, dropped in... [read complete entry]
May 26, 2009, 09:03 CET
Use of Internet banking services remains low in Hungary
The number of internet banking clients in Hungary has remained low, a biannual Scale Research survey published on Monday revealed. Only 9pc of the 1,500 people polled in the survey reported that they use internet banking services, 4.3pc more than... [read complete entry]
May 25, 2009, 09:15 CET
20,000 borrowers ask banks to change loan conditions
About 20,000 borrowers facing difficulties making payments on their foreign currency-denominated loans availed of preferential conditions guaranteed in an agreement between banks and the Finance Ministry to change the terms of their contracts in the first quarter, spokesman for financial... [read complete entry]
May 22, 2009, 10:28 CET
Opposition floats plan to have municipalities buy foreclosed homes
Hungary's main opposition Fidesz party has proposed to give local councils pre-emption rights to purchase foreclosed homes, in order to help borrowers pressured by the financial crisis, a Fidesz MP said on Thursday. Kristof Szatmary said Fidesz had put in... [read complete entry]
May 20, 2009, 11:16 CET
Electro World Hungary in final clearance sale
In yet another sign that retail is going to get worse in Hungary before it gets better, UK-based consumer electronics giant DSG International held a massive sale of its Electro World Hungary chain. And by sale, we mean sale. According... [read complete entry]
May 20, 2009, 10:45 CET
Ecostat expects retail sales to fall in autumn as austerity bites
Ecostat sees Hungary's retail turnover stagnating for the next several months before falling again from August with the introduction of new austerity measures, the research arm of the Central Statistics Office (KSH) said in its fresh Mikroszkop report on Tuesday.... [read complete entry]