Macroeconomic News


INDICATORS - HUNGARY - Aug 10

Fri, 10th Aug 2012 18:46


BUDAPEST, Aug 10 (Reuters) - Hungary's latest indicators.

Base rate 7.00 pct (+5
0 bps on Dec 20)

2-week deposit rate 7.00 pct (+50 bps on Dec 20)

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GROSS DOMESTIC PRODUCT CHANGE (pct)

Q1 2012 Q4 2011 FY 2011 Q1 2011

Unadjusted (y/y) -0.7 1.4 1.7 2.5

Calendar-adjusted (y/y) -1.2 1.5 1.7 2.4

Seasonally and

calendar-adjusted (q/q) -1.2 0.0 N/A 1.4

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INFLATION (pct change)

June '12 May '12

Headline CPI m/m 0.1 -0.2

Headline CPI y/y 5.6 5.3

Core CPI y/y 4.9 4.8

BREAKDOWN OF MONTH-ON-MONTH CHANGE

Food Alcohol Clothing Consumer Energy Other Service Total

tobacco durables goods

2011

June -1.0 0.2 -0.6 -0.4 0.1 -0.4 0.3 -0.2

July -1.2 0.2 -2.5 -0.2 0.1 -0.5 0.7 -0.3

Aug -1.1 0.5 -2.6 -0.3 0.0 0.8 0.3 -0.1

Sept -0.5 0.0 2.3 0.0 0.0 0.5 -0.5 -0.1

Oct 0.4 0.6 3.8 0.2 1.6 1.4 -0.2 0.7

Nov 1.2 1.2 0.7 -0.1 0.5 1.5 -0.2 0.7

Dec 0.1 1.3 0.1 0.2 0.1 0.0 0.2 0.2

2012

Jan 2.8 3.0 -2.7 -0.2 1.0 2.8 2.2 2.1

Feb 1.7 0.9 -0.6 0.1 2.7 0.2 0.3 0.8

March 0.8 3.0 0.9 -0.3 0.2 1.2 0.2 0.8

April 0.8 1.1 2.4 0.0 0.3 1.4 0.5 0.8

May 0.3 0.6 0.9 -0.3 0.1 -1.4 -0.1 -0.2

June 1.9 0.4 -3.0 0.1 0.5 1.2 0.3 0.7



BREAKDOWN OF CPI YEAR-ON-YEAR CHANGE*

Food Alcohol Clothing Consumer Energy Other Service Total

tobacco durables goods

2011

June 6.7 -0.9 4.9 -1.3 3.6 5.3 2.1 3.5

July 5.4 -0.3 4.9 -1.4 3.5 4.4 2.1 3.1

Aug 6.3 -0.1 3.8 -1.3 4.8 5.6 2.0 3.6

Sept 6.2 -0.4 2.5 -1.3 4.6 5.7 2.3 3.6

Oct 5.1 0.2 3.2 -1.2 5.9 7.4 2.5 3.9

Nov 5.1 1.6 3.4 -1.4 6.3 8.6 2.5 4.3

Dec 4.6 4.1 2.5 -1.2 5.9 6.8 2.7 4.1

2012

Jan 5.5 6.7 2.8 -1.5 6.4 8.5 4.6 5.5

Feb 6.0 7.6 4.8 -1.3 8.1 8.7 4.5 5.9

March 4.7 10.8 3.6 -1.4 6.8 8.6 4.1 5.5

April 4.2 12.6 2.0 -1.2 7.0 9.1 4.2 5.7

May 4.1 13.2 2.0 -1.3 6.9 7.7 3.8 5.3

June -0.1 0.7 -0.3 -0.1 0.0 -0.4 0.5 0.1

INDUSTRIAL PPI DATA (pct change)

PPI June 2012 May 2012 June 2011

y/y 6.9 7.8 -1.0

m/m -1.6 0.8 -0.8

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INDUSTRIAL OUTPUT (pct change)

June 2012 May 2012 June 2011

Month-on-month (adjusted) -2.2 3.5 -0.5

Year-on-year (adjusted) 0.6 2.4 0.8

Year-on-year (unadjusted) 0.6 0.1 -1.4

NOTE: June figures are preliminary. Month-on-month figures

are seasonally and working day-adjusted. Adjusted year-on-year

data reflect the number of working days.

-----------------------------------------------------------

UNEMPLOYMENT April-June March-May April-June

2012 2012 2011

Unemployed 10.9 11.2 10.8

(Pct of workforce)



Number of jobless 472,200 485,400 460,700



Employed 50.6 50.2 49.6

(Pct of workforce)

(million) 3.876 3.849 3.808



------------------------------------------------------------

May April May '11

GROSS WAGE GROWTH (Y/Y) 6.4 2.5 6.9

Private sector 9.4 6.5 6.6

Public sector -0.6 -7.3 6.6

Ex-bonus private sector 9.6 7.6 4.5

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RETAIL SALES (pct change)

May April May 2011 Jan-May 2012

Month-on-month -0.1 -1.0 0.2 n/a

Year-on-year -2.5 -2.8 0.8 -1.0

NOTE - Month-on-month retail data are seasonally and working

day-adjusted. Year-on-year data are working day-adjusted.

--------------------------------------------------------

BUDGET BALANCE (in billion Hungarian forints)

Jan-July 2012 Jan-July 2011



Central state budget -542.5 -1,367.5

Indep. govt funds 86.0 85.4

Social sec. funds 19.0 -212.4

BALANCE -437.5 -1,494.5

NOTE - The figures are preliminary, cash flow-based and do

not include local governments.

----------------------------------------------------------

DETAILED CENTRAL BANK C/A AND FINANCING (million euros)

Q1 Q4 Q1

2012 2011 2011



Trade of goods/services 1,762 1,485 1,794

Goods 1,156 795 1,339

-Exports 19,383 19,444 19,316

-Imports 18,227 18,649 17,977

Services 606 689 455

Income and current

transfers -1,576 -1,351 -1,453

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CURRENT ACCOUNT 186 134 342

---------------------------------------------------

Capital account 489 686 453

Financial account -2,668 -1,738 2,280

-Direct investment 345 1,237 -185

Abroad -3,359 -2,704 -91

In Hungary 3,704 3,940 -94

-Portfolio investments 406 -1,181 3,884

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KSH TRADE BALANCE (million euros)

June '12 Jan-June '12 May '12 June '11 Jan-June '11

761.7 3,588.2 701 570.8 3,822.6

NOTE: June 2012 figures are preliminary. Figures from the

Central Statistics Office (KSH).

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CENTRAL BANK INTERNATIONAL RESERVES (bln euros, end-period)

July 2012 June 2012 Dec 2011 July 2011

35.899 35.575 37.774 36.106



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LATEST TREASURY BILL AUCTION YIELDS (pct)

6-week 3-month 12-month

7.08 6.85 6.98

LATEST GOVERNMENT BOND AUCTION YIELDS (pct)

3-yr 2015/C 5-yr 2017/A 10-yr 2022/A 15-yr 2028/A

6.84 7.09 7.33 7.92

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HUNGARY'S SOVEREIGN RATINGS (Outlook in brackets)

Fitch Moody's S&P

(negative) (negative) (negative)

Short-term forint N/A N/A B

Long-term forint BBB- Ba1 BB+

Short-term foreign c. B N/A B

Long-term foreign c. BB+ Ba1 BB+

Data release diary.........................

Forecasts for key indicators..............

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