The KSH noted that, similarly to the previous quarter, growth was strong and affected nearly all branches. Business investments expanded and the realization of projects launched under the 2014-2020 EU funding cycle also gathered momentum, the stats office said. Investments rose by a seasonally adjusted 6.3% from Q1 2017. First-half investments were up 25.4% year-on-year, national news agency MTI reports.

Investments in machinery and equipment rose 21.1% in the second quarter and were up 21.6% in the first half of 2017 from a year earlier. Construction investments rose 32.5% in Q2 and were up 29.7% in H1.

Investments at companies employing at least 50 people rose 29.3%, while investments at budget-funded institutions jumped 56.1% in Q2 from a year earlier. The rises followed respective year-on-year contractions of 17.5% and 52.1% in Q2 2016.

Investments rose rapidly in H1 after a 20% drop in 2016. Last yearʼs drop came as projects for the 2007-2013 EU funding cycle were wound up in 2015 and projects for the 2014-2020 cycle had not yet materialized.