Q3 GDP up 4.5% yr/yr
Growth in Q3 was driven by industrial growth, mostly construction output, on the production side, and capital investments and exports on the consumption side, the figures show. Third-quarter industrial output rose 6.3% year-on-year and was up 3.7% from Q2. Within the industrial sector, the manufacturing sector expanded 6.7% year-on-year in Q3, roughly level with the 6.8% year-on-year increase in Q2. The construction sector grew at a faster rate, picking up from 14.2% year-on-year in Q2 to 17.6% year-on-year in Q3, mostly because of big motorway and road building projects as well as other civil engineering jobs. The farming sector contracted 10.9% year-on-year in Q3, but expanded 4.5% from Q2 because of the harvest. Growth in services was up 4.2% year-on-year in Q3.
ADVERTISEMENT
Economic Development Ministry Responds to Banking Concerns
Parl't Approves Amendments to Legislation on Judiciary
The Social Aspect of ESG is Now Inescapable
Hungary Tourism Spending Surplus Reaches HUF 265 bln in Q1
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
