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Effects of coronavirus (COVID-19) on household solvency index* in Hungary in 2020, by region

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Sources

Release date

May 2020

Region

Hungary

Survey time period

April 2020

Supplementary notes

* The household solvency index shows the financial situation and financial security of households, based on indicators such as the level of income or the cost of living.

Figures are relative to the first quarter of 2020.

Citation formats

Effects of COVID-19 on household solvency index in Hungary 2020

Published by D. Clark, May 27, 2020
As of April 2020, Western Transdanubia was the most heavily affected Hungarian region by the economic impact of the coronavirus (COVID-19), experiencing a 46 percent decrease in household solvency index compared to the first quarter of 2020. The significant decrease in household solvency index in the Transdanubian regions can be traced back to the importance of the automotive industry in the regions' economy, as the collapse of the global supply chain has led to numerous wage cuts, shutdowns and layoffs.
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