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14 of August, 2014Research
SME Outlook (July 2014)

The HCCI Institute for Economic and Enterprise Research (IEER) business climate survey in July 2014 shows that the level of business confidence in Hungary continued to improve compared to that seen in the previous quarter, and that for three consecutive quarters a rising business confidence was detected. The IEER Quarterly Business Climate Index rose from the April level of 10 points to 18 points. The current 18 points is the highest level recorded since the beginning of the research (2005) and the last time a similar level was reached was at the beginning of 2011 (in January 2011 it reached 16 points). The Uncertainty Index level of 35 points is one point lower than the value in April; this indicates stagnation in uncertainty following a sharp rise at the beginning of the year. The current level is below the values recorded one or two years before (in July 2013 it was 37 points; in July 2012 it was 42 points). In addition, the value of the Uncertainty Index indicates that the current trend is not uniform within the private sector, and that the recovery will continue to be confined to one part of the economy and will not be felt by all companies.

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6 of August, 2014Research
Which are the poorest and richest regions in Hungary?

Social and economic developments after the regime change in 1989 have completely transformed our country. In many ways, Hungary was divided into two parts. The advanced, more developed area is increasingly linked to the more developed parts of the EU in all aspects and is an economically and socially emerging area, comprising of the capital city and its environs as well as the north-western part of the country. By contrast, all other parts of the country are increasingly separated from this developed region, and thus also the European average. To further awareness of this situation the HCCI IEER prepared the social and economic profiles of Hungary's regions in 2013 in which the development path of individual regions was clearly shown. In this analysis, based on the latest available data (2007-2012), the differences in the state of development of the 198 Hungarian statistical districts were examined. We present maps showing development on a statistical district scale. The analysis focuses on the regional differences of certain processes and phenomena, and provides an answer to the question of which are the most developed and most underdeveloped regions of our country.

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23 of July, 2014Research
An increasing number of Hungarian students apply to British universities

Between 2006 and 2013 the number of Hungarian high school graduates applying to British universities increased significantly, by nearly 2.7-fold, while other Visegrad countries were characterized by much lower growth rates. Besides, the research of IEER examining the prospects for further studies also reveals that regional disparities in further education are discernible within Hungary. Children from the underdeveloped Northern and Great Plains regions usually don't apply for universities in Budapest or abroad, whereas in the region of Central Hungary students most often choose the most prestigious universities of Budapest. The study was conducted on graduating students at thirty Hungarian state high schools; the results are based on 704 responses.

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20 of July, 2014Research
IEER Monthly Bulletin of Economic Trends

What difficulties are facing companies that want to invest in Hungary today? What is the impact on the investment climate of the Growth Loan Program (NHP)? These and other questions are examined in a research conducted by IEER, in which 2,600 company managers were interviewed. The answers showed that the NHP program itself does not increase the appetite for investments, as this program is unable to remedy the negative effects arising from the demand side nor the institutional environment of uncertainty. As far as company managers are concerned, these are the most inhibiting factors.

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9 of July, 2014Research
Optimistic Expectations and a Small but Growing Gap in the Business Situation Outlook

The business expectations and investment activity of small and medium-sized enterprises (SMEs) has picked up slightly in the last quarter. Based on the results of the IEER SME survey in April the business climate index increased slightly compared to the previous three months. Compared to January 2014, data from the Uncertainty Index was also higher, that is, the current and expected business situation with regards to the diversity of opinions slightly increased among SMEs. But this figure is still relatively low compared to the results of the previous survey. In view of the results and expected staff changes, there is an overall positive change in employment growth; at the same time, investment activity is decreasing.

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3 of July, 2014Research
The Funding of Growth Scheme and the obstacles of company investments

In this analysis the behaviour of Hungarian enterprises is investigated regarding their investments and loans. In 2013 the volume of investments stated to grow in Hungary after a prolonged period of decrease. The most important problems the companies have to face are the unstable regulation, the high funding costs, the lack of demand and the difficulties of getting a loan.

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1 of July, 2014Research
Results of the IEER Quarterly Business Climate Survey – July 2014

The survey In July 2014 showed that in Hungary the level of business confidence improved further compared to that seen in the previous quarter, thus we have three consecutive quarters in which growing business confidence was detected. The GVI Quarterly Business Climate Indicator for April rose 9 points to 18 points, also with three consecutive quarters of increases. This 18 points is the highest value recorded since the beginning of the current research (2010), and the last time the index was at a similar level was in early 2011 (in January 2011 it reached 16 points). The Uncertainty Index stood at a level of 35 points, one point below the value in April; this refers to stagnation in uncertainty following a sharp rise at the beginning of the year. The current level is below the 36-point level from two years earlier (in July 2013 it was 37 points; in July 2012 it was 42 points). The uncertainty index value indicates that the current trend does not uniformly affect the business community and will continue to affect only one part of the economy; others have not yet been affected.

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23 of June, 2014Research
Data on Vocational Training and Employment of Skilled Workers

How can we characterize the Hungarian vocational training, what can we interpret the trends? How can we describe the students in the vocational schools and what awaits them on the labour market? These questions were analyzed by the Institute for Economic and Enterprise Research by summarizing the facts and data referring to the vocational training from the last 10-15 years.

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20 of June, 2014Research
IEER Monthly Bulletin of Economic Trends

Monitoring online media can also be used to predict investment activity. A new research by the IEER assessed this possibility. Based on more than 12 thousand articles containing investment-related terms, we determined those types of articles which help us the most to forecast investment activity as a whole and, investment activity of the private sector. In addition to articles on abstract and legal topics, articles from origo.hu and vg.hu deserve special attention in this regard.

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11 of June, 2014Research
RDTCs Decisions are Taken Little into Account by Vocational Schools

It is a very important requirement for skills training in the public education system that students obtain the skills and trades necessary for long-term access to the labor market. One important condition is that the schism between trades obtained at vocational school and the needs of the labor market be narrowed. In order to facilitate this goal, the Hungarian government developed a system in which the Regional Development and Training Committees (RDTCs) between 2008 and 2012 proposed a vocational training school structure on a regional basis. The IEER latest analysis examines how training schools responded to the proposals of the RDTCs education structure, and how proposals have been taken into account when making enrollment decisions. A key finding of this analysis is that RDTCs decisions have only minor influence on the future development of student numbers.

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