Hungary GDP


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.

Consensus Forecast panelists expect a 2.8% expansion in 2014, which is up 0.2 percentage points from last month’s projection. For 2015, the panel expects growth to accelerate to 2.3%.

Author: Teresa Kersting, Economist

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Hungary GDP Chart

Hungary GDP Q2 2014 0

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

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