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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