Hungary’s Q3 GDP up 2%, says flash estimate

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The gross domestic product of Hungary grew by 2% in the third quarter of the year, compared to the third quarter of 2015, with the main contributors to growth being market services and agriculture, according to a first release of data (flash estimate) issued today by the Central Statistical Office (KSH).

The performance of industry stagnated and construction continue to slow down growth, the KSH noted.

Compared to the second quarter, GDP was up only slightly in the third quarter, by 0.2%, according to both seasonally and calendar-adjusted data.

According to seasonally and calendar-adjusted and reconciled data, GDP increased by 1.4% in the third quarter, compared to the corresponding quarter a year earlier. However, according to data before reconciliation, which this year better represent real economic processes than reconciled data, the volume of GDP grew by 1.8% in the quarter, according to the KSH report.

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