Hungary: GDP growth slows in Q2
August 14, 2015
In Q2, GDP expanded 2.7% over the same period last year, according to preliminary data released by the Central Statistics Office (KSH) on 14 August. The print came in below both the 3.5% expansion recorded in Q1 and market expectations of a 3.1% rise. In addition, the reading marked the slowest pace of growth in nearly two years. According to KSH, the moderation mainly resulted from a decline in agricultural output, while an increase in industry contributed positively to Q2’s expansion.
On a quarter-on-quarter basis, GDP increased a seasonally-adjusted 0.5% in Q2, which was slightly down from Q1’s 0.6% expansion. More detailed data will be released on 4 September.