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KSH: Hungary’s GDP growth decelerates to 2.7% in Q2

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GDP growth in Hungary decelerated to a year-on-year increase of 2.7% in the second quarter of the year, slowing from the first quarter’s 3.5% y.o.y. increase, the Central Statistical Office (KSH) reported today in a first reading of data.

KSH attributes GDP  growth to a growth in the performance of industry, while the slowdown of the rate of increase chiefly resulted from a decrease in the performance of agriculture.

According to data by KSH, GDP growth was the same adjusted for calendar year effects, but adjusted for seasonal effects as well, growth was 2.4%, down from 3.2% in Q1.

In a calendar year- and seasonally-adjusted quarter-on-quarter comparison, GDP growth reached 0.5% in Q2, edging down from 0.6% in Q1.

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