SME business confidence in negative territory
Hungarian small and medium-sized enterprises have become pessimistic regarding their business prospects and the country's economic situation in the coming months, according to the latest quarterly confidence report of research institute GfK and K&H Bank.
Unemployment stuck at 7.2% in March-May
Hungary's unemployment rate stayed at a six-year high of 7.2% in the period March-May 2005, according to figures released by the Central Statistical Office (KSH). On a three-month average, the number of unemployed persons increased by 4,000 year on year to 302,900, and by 11,000 compared to the previous three-month period.
Retail sales growth picks up to 7.3% in April
Retail sales in Hungary were up 3.3% year on year unadjusted, and 7.3% on a seasonally adjusted basis in April according to figures released by the Central Statistical Office (KSH). This brought unadjusted growth for the year to date to 4.0% and adjusted growth to 4.3%.
Auto supplier FAG to build HUF 10 billion ball bearing factory in Debrecen
Automotive supplier FAG Hungary Kft, a member of Germany's Schaeffer Group, will build a HUF 10 billion (USD 49 million) production plant in the Debrecen Western Industrial Park, city authorities announced.
MOL inaugurates desulfurization units at Szazhalombatta refinery
MOL Hungarian Oil and Gas Company officially inaugurated on Tuesday desulfurization plants at its flagship Danube refinery in Szazhalombatta that will allow the company to produce fuel that meets the toughest EU quality standards. The three-year investment program cost HUF 60 billion (USD 293 million).
