GDP in Hungary
Hungary - GDP
Economic growth records strongest reading since Q2 2021 in Q1 2022
Economic growth improved to 8.2% year on year in the first quarter, from 7.1% in the fourth quarter of last year. Q1's reading marked the best reading since Q2 2021.
The upturn reflected improvements in private consumption, public spending, fixed investment and exports. Household spending increased 14.6% in the first quarter, which was above the fourth quarter's 7.8% expansion. Government spending accelerated to a 6.4% expansion in Q1 (Q4 2021: +0.4% yoy). Meanwhile, fixed investment growth hit an over two-year high of 13.2% in the first quarter, up from the fourth quarter's 3.2%.
On the external front, exports of goods and services growth accelerated to 5.2% year on year in the first quarter, which marked the best reading since Q2 2021 (Q4 2021: +2.6% yoy). In addition, imports of goods and services growth sped up to 8.3% in Q1 (Q4 2021: +2.0% yoy).
On a seasonally-adjusted quarter-on-quarter basis, economic growth ticked up to 2.1% in Q1, compared to the previous quarter's 2.0% increase. Q1's reading marked the strongest growth since Q2 2021.
FocusEconomics panelists forecast GDP to expand 4.5% in 2022, which is down 0.1 percentage points from last month’s estimate. For 2023, our panel sees GDP growth at 3.8%.
Hungary - GDP Data
|Economic Growth (GDP, annual variation in %)||3.8||2.2||4.3||5.1||4.9|
5 years of economic forecasts for more than 30 economic indicators.
Hungary GDP Chart
Source: Hungarian Central Statistical Office (KSH).
|Bond Yield||2.08||0.0 %||Dec 31|
|Exchange Rate||295.1||-0.68 %||Jan 01|
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June 15, 2022
According to a second estimate by the Statistical Institute, industrial output grew 4.7% year on year in April (March: +4.2% yoy).
June 9, 2022
Consumer prices rose 1.65% in May over the previous month, picking up from April's 1.63% increase.
June 9, 2022
Industrial output increased 4.7% year on year in April (March: +4.2% yoy), according to a preliminary estimate.
June 2, 2022
At its 31 May meeting, the Monetary Council of the Hungarian National Bank (MNB) decided to raise its base rate to 5.90% from 5.40%, marking the 12th consecutive increase.
June 2, 2022
Economic growth improved to 8.2% year on year in the first quarter, from 7.1% in the fourth quarter of last year.