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7 of August, 2017Research
Results of the IEER SME Outlook Survey July 2017

The results of the latest IEER SME Outlook business climate survey reveal that the business confidence significantly increased compared to the previous quarter: the Business Climate Index rose from 18 to 24 points. Thus, the decreasing tendency that started in January 2017 has been broken.

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1 of August, 2017Research
Results of the IEER Quarterly Business Climate Survey July 2017

The results of the latest quarterly business climate survey reveal favourable economic conditions compared to the previous quarter: the IEER Quarterly Business Climate Index increased from 21 to 32 points. This result indicates that following the decline observed in April 2017, the Business Climate Index returned to the value of around 30 points that had characterised it since January 2016. (The Business Climate Index was 34 points in the same period of the previous year.)

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6 of June, 2017Research
Corporate reactions to the raise of the minimum wage and the guaranteed minimum wage

This brief analysis is to study what steps national corporations have already taken or they plan to take in 2017 concerning minimum wage raise and the increased guaranteed minimum wage for the skilled workforce in 2017. In the analysis eight taken or due steps in 2017 will be examined: (1) to avoid wage disparity those earning beyond the level of minimum wage will have a wage increase: (2) planned staff recruitment will be cancelled; (3) there will be layoffs; (4) planned investments will be postponed; (5) the scope of activity and tasks of those employees affected by the wage increase will be modified; (6) the affected employees’ employment will become part-time employment; (7) the benefits of the affected employees will be cut; (8) variable pay/at-risk pay will be decreased (bonuses, on-target earnings).

This study used the research conducted in April 2017 on corporate prosperity by HCCI (Hungarian Chamber of Commerce and Industry) IEER (Institute for Economic and Enterprise Research); during this research more than 3200 corporate leaders provided answers to the research questionnaire.

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15 of May, 2017Research
Results of the IEER Quarterly Business Climate Survey

The results of the latest quarterly business climate survey reveal less favourable economic conditions compared to the previous quarter: the IEER Quarterly Business Climate decreased from 31 to 21 points. It means that the enterprises detect a turning point: we received at least 30 points in each quarter since January 2016, 21 points were measured for the last time in July 2015. (The Business Climate Index was 33 points in the same period of the previous year.)

This decline is mainly due to the fact that businesses are evaluating the current profitability, stock order, business situation, and past six-month production levels more negatively than in January. In addition, expectations on the development of investments have become more pessimistic.

The Uncertainty Index is at a current level of 35 points, which is slightly lower than in the previous quarter (it was 36 points in January 2017). The value of the Uncertainty Index indicates that the current trend is not uniform within the private sector, and that it will continue to be confined to one part of the economy and will not be felt by all companies.

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9 of February, 2017Research
Results of the IEER SME Outlook Survey January 2017

The results of the latest IEER SME Outlook business climate survey reveal that the business confidence slightly decreased compared to the previous quarter: the Business Climate Index fell from 28 to 25 points. The value of the index was 25 points in January 2016.

The Uncertainty Index is at a current level of 38 points, which is the same as in the previous quarter. The value of the Uncertainty Index indicates that the current trend is not uniform within the private sector, and that it will continue to be confined to one part of the economy and will not be felt by all small and medium sized companies.

In sum, we can assess that the Business Climate Index after the peak (33 points) in April 2016 dropped to 27 points in July 2016 and it was 28 points in October 2016, now a decrease (25 points) occurred again.

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7 of February, 2017Research
Results of the IEER Quarterly Business Climate Survey January 2017

The results of the latest quarterly business climate survey reveal that the economic condition remains the same as that in the previous quarter: the IEER Quarterly Business Climate Index is 30.5 points, and it was 30.4 points in October 2016. The value of the indicator was 30.5 points in July 2016, that is, the last three quarters are characterized by the stagnation of the Business Climate Index. (The Business Climate Index was 31.7 points in the same period of the previous year.)

The Uncertainty Index is at a current level of 36 points, which is slightly higher than in the previous quarter (it was 35 points in October 2016). The value of the Uncertainty Index indicates that the current trend is not uniform within the private sector, and that it will continue to be confined to one part of the economy and will not be felt by all companies.

In sum, we can assess that the level of business climate is still favourable in January 2017, however, there were no improvement compared to October 2016, the value of the index stagnated.

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2 of February, 2017Research
Business perception of labor shortage in Hungary

In its analysis the Institute for Economic and Enterprise Research (IEER) examined the perception of labor shortage among Hungarian companies. The analysis is based on the data of the October 2016 Business Climate Survey of 3185 companies among which 2980 answered questions related to recruiting difficulties, and labor and skill shortage. The analysis also covers how recruiting difficulties and expected investments, stock orders, and plans of salary increase are related. The results show that a growing number of Hungarian companies consider recruiting difficulties and labor shortage as an obstacle to business activity and two thirds of them expect that the problems related to this are going to worsen in 2017. The most prevalent problem mentioned by the companies is the recruitment of senior employees. Plans of salary increase and recruiting difficulties are positively related showing that salary increase is a possible way of adaptation to labor shortage among the Hungarian companies.

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1 of December, 2016Research
Results of the IEER Quarterly Business Climate Survey October 2016

The results of the latest quarterly business climate survey reveal that the economic condition remains the same as that in the previous quarter: the IEER Quarterly Business Climate Index is still 30 points. The upward trend since October 2015 has been broken in July 2016, when the Business Climate Index decreased from 33 points to 30 points. According to our results, this quarter is characterized by stagnation. (The Business Climate Index was only 24 points in the same period of the previous year.)

The Uncertainty Index is at a current level of 35 points, which is slightly higher than in the previous quarter (it was 34 points in July 2016). The value of the Uncertainty Index indicates that the current trend is not uniform within the private sector, and that it will continue to be confined to one part of the economy and will not be felt by all companies.

In sum, we can assess that the level of business climate is still favourable in October 2016, however, there were no improvement compared to July 2016, the value of the index stagnated.

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10 of November, 2016Research
Favourable business climate, unchanged expectations – results of the October 2016 IEER Business Climate Survey

The 38th wave of the IEER Business Climate Survey was conducted in October 2016. This is the largest business climate survey in Hungary with regard to the number of participating companies. This year 3185 managers responded to the questionnaire on their business climate and short-term business expectations. The surveyed companies are representative to the Hungarian business sector in terms of economic performance, region and sector distribution. This analysis summarizes the results of the October 2016 survey. According to the new results of the IEER Business Climate Survey the IEER Business Climate Index decreased to +48 points in October 2016 from +49 points in April 2016, which is the second highest value in the history of the survey. Companies are still very positive about their current business climate, however, it seems that the continuing upward trend since October 2012 is broken. This is due to the fact that the expectations on investments (especially construction and machinery investments), profitability and stock orders are slightly more pessimistic than in the previous period. The value of the Uncertainty Index has increased by one point (October 2016: 48 points) compared to April 2016. This refers to the fact that the difference between the evaluations of the enterprises has not changed compared to the previous period.

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23 of August, 2016Research
Results of the IEER SME Outlook Survey August 2016

The results of the latest IEER SME Outlook business climate survey reveal less favourable economic conditions compared to the previous quarter: the Business Climate Index decreased from 31 to 27 points. Thus the upward trend since last October was broken. While enterprises regard their current situation more favourable compared to the previous quarter, they consider their future prospects more negatively than in April. It means that the SME sector predicts a turning point in the trends of domestic business climate.

The Uncertainty Index is at a current level of 36 points, which is almost the same as the value measured in the preceding quarter (it was 37 points in April 2016). The value of the Uncertainty Index indicates that the current trend is not uniform within the private sector, and that it will continue to be confined to one part of the economy and will not be felt by all small and medium sized companies.

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