Hungary: Hungarian economy loses steam in the third quarter
November 13, 2015
Hungary’s economy lost momentum in the third quarter, marking the second consecutive quarter of decelerating growth. GDP expanded 2.3% over the same period last year in Q3, according to preliminary data released by the Central Statistics Office (KSH) on 13 November. The print came in below both the 2.7% expansion recorded in Q2 and market expectations of a 2.5% rise. In addition, the reading marked the slowest pace of growth since Q2 2013. According to KSH, the expansion mainly resulted from growth in industry, wholesale and retail trade, along with food service activity.
On a quarter-on-quarter basis, GDP increased a seasonally-adjusted 0.5% in Q3, which matched Q2’s result. More detailed data will be released on 4 December.