In the fourth quarter, GDP increased 1.4% over the same period the year before, according to data released by the Central Statistics Office (KSH) on 9 March. The print was unrevised from the flash estimate published on 15 February and mirrored an increase of the same magnitude in the third quarter. The external sector remained the main pillar of growth, despite exports moderating from a 6.7% expansion in the third quarter to a 4.9% increase in the fourth quarter. Imports moderated further, slowing from 3.8% growth in the third quarter to a 1.7% expansion. As a result, the net contribution from the external sector to overall growth inched up from 3.2 percentage points in the third quarter to 3.3 percentage points. On the domestic side, gross fixed investment declined for the twelfth quarter in a row by decreasing 4.4% (Q3 2011: -7.6% year-on-year). Total consumption mirrored the previous quarter's 0.2% contraction, as private consumption swung from a 0.1% increase in the third quarter to a 0.1% contraction in the fourth, while government consumption declined at a slower rate of 0.7% (Q3 2011: -1.9% yoy). Compared to the previous quarter, GDP grew a seasonally adjusted 0.3%, which came in only a notch below the 0.4% increase recorded in the third quarter. In the full year 2011, the economy grew 1.7%, up from the 1.3% recorded in 2010. In its latest inflation report from December, the Central Bank anticipated the economy to grow 0.1% this year and 1.6% in 2012.
GDP maintains the pace in fourth quarter
March 9, 2012
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Hungary Economic News
October 11, 2016
In September, consumer prices rose 0.2% from the previous month, contrasting August’s 0.4% decrease.
October 7, 2016
According to preliminary data released by the Statistical Institute (KSH) on 7 October, industrial output in August rose a working-day adjusted 3.5% from the same month last year, rebounding from July’s 0.1% decrease and marking a four-month high. On a monthly basis, industrial production increased a seasonally- and working-day adjusted 1.6% in August, which followed July’s 0.3% decrease.
September 26, 2016
The GKI economic sentiment indicator advanced slightly from August’s minus 3.9 points, which was the lowest reading in over two years, to the still-low level of minus 3.6 points in September.
Hungary: Central Bank leaves base rate at 0.90%, continues easing monetary conditions by capping main deposit facility
September 20, 2016
The Central Bank of Hungary (NBH) held all rates constant at its 20 September monetary policy meeting, but continued easing monetary policy conditions by using unconventional monetary policy instruments.
September 9, 2016
In August, consumer prices fell 0.4% over the previous month, coming in below July’s softer 0.2% decrease.