Hungary GDP

Hungary

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.

The Central Bank expects the economy to expand 3.3% in 2015 and 2.5% in 2016. FocusEconomics Consensus Forecast panelists expect a 2.5% expansion in 2015, which is unchanged from last month’s projection. For 2016, the panel expects growth to expand 2.4%.


Author: Teresa Kersting, Economist

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Hungary GDP Chart


Hungary GDP Q2 2015

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


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