GKI stands by 2018 GDP forecast
Photo by Feng Yu / Shutterstock.com
Economic research institute GKI has confirmed its projection for this yearʼs GDP growth at 4% in its latest forecast sent to state news agency MTI on Friday.
GKI said Hungaryʼs economic growth has probably already reached the peak of its current cycle, with GDP up by 4.4% in both the last quarter of 2017 and the first quarter of 2018.
The GKI projection is still under the governmentʼs official forecast for 4.3% growth.
At the same time, GKI lowered its industrial output growth forecast from 5% to 4%, while confirming its projections for construction sector output growth of 10% and investment volume growth of 9%. Retail sales growth is seen accelerating to 6%.
The GKI researchers expect average gross wages to rise 10% this year, after climbing 12.9% in 2017. They project average annual inflation of 3.5% in 2018.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.