Hungary Economic Forecast

Hungary Economic Outlook

October 3, 2017

Revised data confirmed that yearly GDP growth reached 3.2% in the second quarter. Despite decelerating from Q1’s multi-year high in annual terms due to a weak external sector, the country’s economic fundamentals remain healthy as evidenced by solid quarter-on-quarter growth in Q2. Likewise, fixed investment and private consumption, the main engines of growth, grew at a strong pace in annual terms thanks to the ongoing fiscal stimulus, the resumption of EU investment inflows into the economy, an expansionary monetary policy and a tight labor market. This suggests that the positive momentum will carry into the second half of the year and should propel economic growth to its fastest annual rate of expansion in years. Adding to the good news, business confidence reached an all-time high in September, and the challenges that affected the external sector in the first half of the year, such as capacity constraints, should dissipate in the upcoming quarters.

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Hungary Facts

Bond Yield2.62-0.38 %Oct 16
Exchange Rate260.90.09 %Oct 16
Stock Market39,1200.58 %Oct 16

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Hungary Economic Growth

October 3, 2017

Hungary’s economic outlook is promising. The domestic economy will continue benefiting from favorable monetary conditions, the government’s aggressive fiscal stance ahead of next year’s election, increased investment, a strong labor market and elevated consumer and business confidence. FocusEconomics panelists project the economy will expand 3.7% in 2017. For 2018, they pencil in growth of 3.3%, which is unchanged from last month’s forecast.

Hungary Economic News

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