The new year’s start will be already saturated with macroeconomic news, with a barrage of data in the pipeline both in Hungary and globally. Key figures will be revealed about the manufacturing industry, the housing market and the labour market, as well. Investors are most keen to see the numbers of the US Bureau of Labour Statistics on Friday, as while most indicators hint recession is over, the outlook on the job market remains dim.
Although Hungary’s own macro calendar looks kind of promising, it is by far not as exciting as the list of key releases elsewhere. Tuesday will be dense, with the Central Statistics Office (KSH) set to publish Q3 figures on the government sector, as well as industrial PPI and the Finance Ministry scheduled to unveil preliminary budget figures for December in the afternoon.
The ministry expected HUF 131 bn surplus for the last month of the year (on a cash flow basis), which meant no change to the full-year forecast despite the heavy overshoot by end-November. The upbeat stance roots in the ministry’s expectation of massive tax revenues in December.
The KSH will release the latest set of employment and U-rate figures on Wednesday. The latest figures show that the crisis-related layoffs continued, with the number of unemployed totalling 440,000 in August-October, which corresponds to a jobless rate of 10.5% (up from 10.3% in the previous three-month period and substantially higher than 7.7% in the same period of 2008).
On Friday, we will be let in on the November industrial production data. The sector has been clearly improving for some months now and output dropped by “only" 10.8% in October. The fixed-based indicator, though was more revealing, showing that export sales are undeniably on an upward track since a painful plummet.
See the key foreign indicators/events in the table below.
Charting is displayed using TradingView's technology, a platform, where you can build advanced charts,
spot upcoming trends in the stock screener, and find inspiration in multiple trading ideas
