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    Tag: enterprise survey
    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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    22 of December, 2016Research
    Short-term Labor Market Forecast – 2017

    The following summary comprises the latest results gained from the largest representative survey series on the Hungarian labour market. During the study 6835 company leaders’ answers on employment, on the company’s business situation, and on the company’s future expectations were registered and analyzed. The history of the survey series targeting short-term expectations of the labour market goes back to the years following the regime change of 1989-90 in Hungary. The latest survey in this research program took place between September 7 and October 14, 2016 as the ninth occasion of the collaboration between the Hungarian Ministry for National Economy and the Institute for Economic and Enterprise Research (IEER) to forecast the short-term economic prospects of the private sector, and to review corporations’ labour market decisions in an empirical study.

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    5 of December, 2016Research
    Results of the IEER SME Outlook Survey November 2016

    The results of the latest IEER SME Outlook business climate survey reveal that the economic condition remains the same as that in the previous quarter: the Business Climate Index increased from 27 to 28 points. This is due to the fact that the vast majority of the sub-indicators stagnated compared to July 2016. Only three sub-indicators moved relative to the previous quarter: the production of level of the previous quarter dropped significantly, however, the expected business situation and the expected profitability slightly increased compared to July.

    The Uncertainty Index is at a current level of 38 points, which is 2 point higher than in the previous quarter (it was 33 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 small and medium sized companies.

    In sum, we can assess that the Business Climate Index dropped to 27 points in July 2016 and 28 points in October 2016 compared to the peak of April 2016 (33 points).

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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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    12 of August, 2016Research
    Results of the IEER Quarterly Business Climate Survey July 2016

    The results of the latest quarterly business climate survey reveal slightly less favourable economic condition compared to the previous quarter: the IEER Quarterly Business Climate Index decreased from 33 to 30 points, thus the upward trend since October 2015 has been broken. According to the results the enterprises see their future prospects – not their current situation – more pessimistic than in April, that is, they predict the deterioration of the so far favourable business climate. The Business Climate Index was only 21 points in the same period of the previous year.

    The Uncertainty Index is at a current level of 34 points, which is slightly lower than in the previous quarter (it was 35 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 companies.

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    20 of June, 2016Research
    The use of fringe benefits among Hungarian companies

    In its ongoing analysis of Hungarian companies, the Institute for Economic and Enterprise Research (IEER) examined the practices relating to the use of fringe benefits among domestic enterprises. The analysis is based on the data of the April 2016 Business Climate survey of 1,771 domestic enterprises employing at least one person; they were questioned in relation to the non-wage benefits they provide. The results show that 55% of companies with a minimum of one employee provided at least one form of fringe benefits in 2016, the most popular non-wage benefits being considered were local travel allowances and the Erzsébet vouchers (food coupons, but sometimes used for non-food purchases). The use of fringe benefits is associated with a company's size, the economic sector it operates in, and its level of foreign ownership, as well as a firm’s business situation: the highest proportion of those that provide fringe benefits are typically medium and large sized companies, those that are foreign-owned, firms operating in the manufacturing sector, and those in a good business situation. For 83% of responding companies, the amount allocated to fringe benefits has not changed over the past year, while for 7% it declined compared to the previous year, and 11% reported that it increased. Those raising fringe benefits were characteristically those in a good business situation and those companies that lifted wages in 2015. Overall, domestic enterprises consider the role of fringe benefits as having a medium effect when making their company attractive to employees.

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    14 of June, 2016Research
    Late payments and debt queues among Hungarian companies

    A recent analysis from the Institute for Economic and Enterprise Research (IEER) of the Hungarian Chamber of Commerce and Industry (HCCI) examined the experiences of late payment and debt queues of domestic enterprises. The results are based on data from the IEER January 2016 Quarterly Business Climate Survey during which we asked 400 domestic enterprises about the topic. The results show that 81% of businesses had at least one business partner that paid late in 2015, while 45% of respondents themselves owed to their suppliers at least once in the period under review. The highest proportion of late payments was among small businesses and the construction sector. From the combined results of the last few years, though, it appears that the situation of companies in terms of late payments has improved: the number of business partners paying late has declined on average as well as the amounts outstanding. The proportion of companies that could not pay their suppliers on time at least once because of a late payment by their customers is also in decline, as well as, compared to previous years, the proportion of respondents who feel that the debt queue problem is worsening.

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