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Tag: enterprise survey
21 of May, 2015Research
Results of the IEER SME Outlook Survey April 2015 – Improving business climate, favourable outlook

The HCCI Institute for Economic and Enterprise Research (IEER) business climate survey in April 2015 shows that the level of business confidence in Hungary continued to improve compared to that seen in the previous quarter. The IEER Quarterly Business Climate Index has risen from the January level of 16 to 23 points. The current level is the highest since the beginning of the research (January 2005). The current level of the indicator is higher than it was one year earlier. The Uncertainty Index level is at a current level of 38 points, which is three points higher than the level in January; this indicates increase in uncertainty. The current level is the same as the value recorded one year before and higher than the value recorded two years before (in April 2013 it was 37 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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11 of May, 2015Research
Results of the IEER Business Climate Survey – April 2015

According to the results of the IEER Business Climate Survey,further positive changes can be expected in the business climate of the Hungarian companies.The IEER Business Climate Index rose to +42 points in April 2015 from +34 points in October 2014.The increase in the IEER Business Climate Index is due to the fact that all primary indicators are higher than in the previous period.

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23 of March, 2015Research
Loans and the Loans for Growth Program (NHP) at Hungarian SMEs

Within the framework of the “SME Outlook” research, since January 2005 the HCCI Institute for Economic and Enterprise Research (IEER) conducts a quarterly analysis of the situation of small and medium sized enterprises, their short-term prospects, as well as the economic and institutional factors affecting this business group. For this project a total of 300 companies operating within the fields of manufacturing, construction and services are surveyed and the data is analysed in every quarter. The structure of the sample remains the same from quarter to quarter, with the companies surveyed representing the economic performance and sector distribution of small and medium sized enterprises in Hungary.

On June 1, 2013, the National Bank of Hungary launched the Loans for Growth Program (NHP), albeit the details of the program had been known several months earlier. For the October 2014 SME Outlook survey the leaders of small and medium-sized enterprises were asked about bank loans and the NHP Program by the IEER.

The results show that 56% of small and medium-sized enterprises have some form of bank loan. The most common type of credit is working capital loan (including bank loans). Companies hold mostly forint-denominated loans.

Euro-based loan is the most common foreign currency loan and mainly used by export-oriented companies, companies in the manufacturing sector and medium-sized firms.

Every fifth company among SMEs have applied for loan under the Loans for Growth Program (NHP). More than half of the companies were interested in working capital loans. Every second company applied for a loan up to 50 million forints. The overall opinion of SMEs is that there are no major changes in the terms of access to loans during the period 2013 and 2014.

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10 of February, 2015Research
Results of the IEER Quarterly Business Climate Survey January 2015

Results of the IEER Quarterly Business Climate Survey January 2015

The 2015 IEER Quarterly Business Climate Survey showed that the level of business confidence in Hungary significantly improved compared to the previous quarter. The IEER Quarterly Business Climate indicator rose from 10 points to 19 points. This value is much higher than the one measured in last year in January (8 points). The value of Uncertainty index stands at a 35-point level, which conforms to the value in October. This result shows a stagnation in the level of uncertainty. The 35-point level is higher than the value of the index last year (it stood at 32 points in January 2014). The value of the uncertainty indicator suggests that the current tendency is not universal and that it only concerns a part of the business community.

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5 of February, 2015Research
Results of the IEER SME Outlook Survey January 2015

Results of the IEER SME Outlook Survey January 2015

The HCCI Institute for Economic and Enterprise Research (IEER) SME Outlook business climate survey in January 2015 shows that after the decline observed in the previous quarter the level of business confidence improved again. The Business Climate Index rose to 16 points from the 9 points measured in October. The index is also higher than it was in last January (9 points). The Uncertainty Index is at 35 points level, which is one point lower than its value in October, so the uncertainty seems to stagnate. The 35 points level is slightly higher than the level measured last year (33 points in January 2014), but lower than the level measured two years ago (41 points in January, 2013). The value of the Uncertainty Index suggests that the current tendency is not universal and that it only concerns a part of the business community, others do not perceive it yet.

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30 of January, 2015Research
The implementation of wage compensation in the private sector

The wage compensation policy helped to offset the negative effect on employment of expected wage increases. The IEER study presents the effects on employment due to the legislative changes of 2012 using data from the National Labour Centre’s Wage Survey and the Hungarian Labor Market Forecast.

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12 of December, 2014Research
Main results of IEER’s Short-Term Labor Market Forecast for 2015

The following summary comprises the latest results gained from the largest representative survey series on the Hungarian labor market. During the study 7179 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 labor 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 and October, 2014 as the seventh 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’ labor market decisions in an empirical study.

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22 of October, 2014Research
Results of the IEER SME Outlook Survey October 2014

Results of the IEER SME Outlook Survey October 2014

The HCCI Institute for Economic and Enterprise Research (IEER) SME Outlook business climate survey in October 2014 shows that the level of business confidence declined significantly compared to the previous quarter. The Business Climate Index declined to 9 points from the 18 points measured in July. This severed the improving trend observed since the beginning of 2014. However, it is important to note that the index is still significantly higher than it was last year in the same period (2 points). The Uncertainty Index is at 36 points level, which is one point lower than its value in July, so the uncertainty seems to stagnate after the increase in the beginning of the year. The 36 points level is slightly higher than the level measured last year (31 points in October 2013), but lower than the level measured two years ago (44 points in October, 2012). This suggests that the deterioration in business expectations is not universal and that it only concerns a part of the business community.

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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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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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