Hungary: Economy decelerates in Q2 from Q1's multi-year high
August 16, 2017
The Hungarian economy continues to grow at a solid pace. According to preliminary data released by the Central Statistics Office (KSH) on 16 August, the economy expanded 3.2% annually in Q2, buoyed by a healthy performance in the service sector. Despite the strong growth, the reading was below the previous quarter’s 4.2% increase and undershot market analysts' expectations of a stronger 3.7% rise.
On a quarter-on-quarter basis, GDP growth slowed from a 1.4% expansion in the first quarter to a still-strong 0.9% increase in the second quarter. More detailed data will be released on 5 September.