Hungary GDP for Q2 2013: Increase of 0.5%

Analysis

More positive results in Hungary’s economic indicators for quarter two of 2013 were reported this morning by the Central Statistics Office (KSH) this morning, with the latest round of figures showing an increase in the country’s GDP of 0.5% year-on-year.

As most forecasts had reckoned, KSH attributed the increase as “mainly due to the increasing performance of industry agriculture and construction.”

Though indicating a positive trend, the rate was just a bit lower than what analysts polled by Portfolio.hu had figured this week, namely a 0.6% y.o.y. increase. Hungarian GDP also rose in the first quarter of this year at a rate of 0.7% y.o.y.

KSH also stated that, with seasonal adjustment, Hungary’s GDP increased 0.1% quarter-on-quarter.

Both Portfolio and the Wall Street Journal opined this week that a similar result to that reported this morning would indicate Hungary’s emergence from the recent recession period.

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