Hungary GDP Q2 2017


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.

FocusEconomics Consensus Forecast panelists expect a 3.2% expansion in 2017, which is up 0.1 percentage points from last month’s projection. For 2018, the panel expects growth to expand 3.1%.

Author: Jean-Philippe Pourcelot, Economist

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Hungary GDP Chart

Hungary GDP Q2 2017

Note: Year-on-year changes of working-day adjusted GDP in %.
Source: Hungarian Central Statistics Office and FocusEconomics Consensus Forecast.

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