GKI stands by 2018 GDP forecast

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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.

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