Hungary: Fourth quarter growth beats expectations
February 15, 2011
In the fourth quarter, GDP increased 2.0% over the same period last year, according to the flash estimate released by the Central Statistics Office (KSH) on 15 February. The print represented an improvement compared to the third quarter's 1.7% expansion and overshot market expectations, which had the economy growing 1.7%. A quarter-on-quarter analysis corroborates the improvement suggested by the annual figures, as economic activity grew 0.2% in seasonally and calendar adjusted terms (Q3: +0.8% quarter-on-quarter). Although no details were officially provided, industrial production likely remained the main driver behind the fourth quarter reading, despite a significant drop in December. A revised and complete set of data will be released on 11 March.