Macroeconomic Forecast Hungary

Hungary's unemployment rate in the June-August period of 2011 was 10.8%, the same as the April-June reading. Given the weakening regional and global economic macroeconomic backdrop, and the knock-on effects this will likely have on Hungarian industry in the near term, we see risks that the unemployment rate rising over the months ahead. As a result, we have been prompted to revise up our end-year forecast to 11.0% from 10.0% previously.

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