ADVERTISEMENT

Hungary GDP grows 1.4% yr/yr in Q3

MNB

Hungary’s GDP rose 1.4% according to both unadjusted and a workday-adjusted figures in Q3 from the same period a year earlier, slowing slightly from 1.5% growth in Q2, the Central Statistics Office (KSH) said in a preliminary estimate on Tuesday.

Agriculture was the main driving force behind growth, followed by industrial exports, KSH said.

The figure is up from the estimate of London analysts polled by MTI who had put GDP growth for Q3 at 0.7%-1.2%.

Quarter-on-quarter, GDP rose 0.5% in Q3 after an upward revised 0.2% rise in Q2, seasonally- and calendar year-adjusted data show.

Quarter-on-quarter growth was back at the pace experienced in Q1 this year, and was the highest since a 0.7% increase in Q3 2010.

Hungary’s GDP started to grow on a yr/yr basis since Q1 2010, and growth picked up to peak at an unadjusted 2.5% and a workday-adjusted 2.4% in Q1 this year and has slowed since then.

Calendar year-adjusted year-on-year GDP growth in Q2 was the same as unadjusted growth.

Q1-Q3 GDP was up 1.8% from one year earlier according to both unadjusted and calendar-adjusted figures.

Hungary’s GDP grew a calendar-adjusted 1.2% in 2010 after dropping 6.7% in 2009.

According to seasonally and calendar-adjusted figures used by the Eurostat for comparison, Hungary’s yr/yr GDP growth slowed to 1.5% in Q3 from 1.7% in Q2 and rose 1.8% in the first three quarters of 2011.

KSH will publish detailed data on Q3 GDP on December 9.

ADVERTISEMENT

Digitization, sustainability among characteristics of future... Analysis

Digitization, sustainability among characteristics of future...

Lawmakers approve residency permit for digital nomads Parliament

Lawmakers approve residency permit for digital nomads

Transformation Delineation - Microsoft country general manag... Podcasts

Transformation Delineation - Microsoft country general manag...

ITM, capital gov't agree on support for public transport City

ITM, capital gov't agree on support for public transport

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.