Hungary: GDP accelerates in Q2 to fastest pace in over seven years
August 14, 2014
In the second quarter, GDP expanded a strong 3.9% over the same period last year, according to preliminary data released by the Hungarian Central Statistics Office (KSH) on 14 August. The figure exceeded both market expectations of a 3.5% increase and the 3.5% expansion recorded in the first quarter. The expansion marked the highest growth rate since Q1 2006. According to KSH, the increase was driven by an improvement in manufacturing and construction.
Compared to the preceding quarter, GDP expanded a seasonally-adjusted 0.8% in Q2, which came in below the 1.1% increase recorded in Q1.