Hungary: Economy grows modestly in third quarter
November 15, 2011
In the third quarter, GDP expanded 1.4% over the same period last year, according to the flash estimate released by the Central Statistics Office (KSH) on 15 November. The reading came in a notch below both the 1.5% expansion observed in the second quarter and last month's Consensus Forecast of a 1.6% increase. Compared to the previous quarter, GDP grew a seasonally adjusted 0.5%, which came in above the revised 0.2% increase recorded in the second quarter (previously reported: +0.0% quarter-on-quarter). A revised and complete set of data will be released on 9 December. The Central Bank projects the economy to grow 1.6% this year and 1.5% next year.