Hungary economic acceleration indicator climbs in July

Budapest, July 28 (MTI) – The Acceleration Indicator (GYIA), a measure of economic and financial indicators compiled by business daily Világgazdaság, rose to 1.9 percent in July from 1.1 percent in June, showing an acceleration in the pace of growth, the paper said on Thursday.

The GYIA measures non-food retail sales, real interest rates, the real value of the Budapest Stock Exchange’s main BUX index, industrial output, stock of vehicle loans, the yield curve for government securities, money supply and real wages.

The paper said the accelerated drawdown of European Union funding, an increase in lending activity and household consumption and a rise in housing investments could give the economy a boost in the second half of the year.

Source: MTI