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Ecostat releases new figures

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Household consumption last year rose slower than the economy and real wages, market researcher Ecostat said in a survey published yesterday.

Output was fueled by strong export on the demand side and industrial growth on the supply side, the researcher said. Hungary's economy expanded 2.7% in the first quarter of 2007, and the annual growth is likely to be in the same region, it said. Ecostat expects Hungary's GDP growth to pick up to 3.2% in 2008. While external demand is likely to narrow next year, household consumption and investments are likely to gather momentum, which will give some impetus to economic growth, Ecostat said. The researcher sees the annual inflation come in at 7.5% by year-end and 3%-4% in 2008. (Magyar Hirlap)

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