GDP up 2.7% in second quarter; agriculture down 17%

Competition

The volume of gross domestic product in Hungary increased by 2.7% in the second quarter of 2015 compared to the same period last year, according to the Central Statistics Office (KSH). Manufacturing and services expanded while agriculture output dropped, figures show.

According to the KSH:

"The value added of industry was 6.1% higher, within which that of manufacturing 7.0% higher year on year. It was the performance of the manufacture of transport equipment and the related supplier branches that increased significantly within manufacturing. The performance of construction rose by 6.5%, within which the construction of buildings and civil engineering both increased. The performance of agriculture decreased by 17%.

"The gross value added of services grew by 2.4% in total. The gross value added of wholesale and retail trade as well as accommodation and food service activities rose by 5.0%, within which accommodation and food service activities grew at a higher rate. The performance of transportation and storage was up by 3.5%. Owing to the growth of computer programming, consultancy and related activities the value added of information and communication went up by 3.8%. The aggregate value added of professional, scientific, technical and administrative activities grew by 4.8%, within which it was the growth of administrative and support service activities that was significant."

ADVERTISEMENT

Reforms to raise productivity would strengthen recovery - OE... Analysis

Reforms to raise productivity would strengthen recovery - OE...

Meeting called to address Pegasus spyware lacks quorum  Parliament

Meeting called to address Pegasus spyware lacks quorum 

Skanska commercial dev unit names new EVP of operations Hung... Appointments

Skanska commercial dev unit names new EVP of operations Hung...

Zsa Zsa Gabor's ashes buried in Budapest City

Zsa Zsa Gabor's ashes buried in Budapest

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.