Hungary: Economy loses steam in Q3
November 15, 2016
Hungary’s economy lost momentum in Q3, following Q2’s expansion. GDP expanded 2.0% in Q3 over the same period last year, according to preliminary data released by the Central Statistics Office (KSH) on 15 November. The reading undershot market expectations of a stronger 2.5% expansion and marks a clear deceleration from Q2’s 2.8% expansion.
According to KSH, a weaker reading in construction and a stagnation in industry more than offset an expansion in market services and agriculture. On a quarter-on-quarter basis, GDP growth decelerated from a seasonally-adjusted 1.0% expansion in Q2 to a tepid 0.2% increase. More detailed data will be released on 6 December.