Hungary's Q3 GDP up 4.5% yr/yr
In January-September 2005, GDP rose by an unadjusted 4.1% year-on-year and rose by 4.4% according to calendar-adjusted figures. The figures are calculated under a new methodology reflecting Eurostat's recent methodological modifications on the accounting of financial services, KSH said.
The third-quarter growth is slightly below analysts' prediction for 4.55% year-on-year GDP growth of 4.55% in a poll by the business daily Napi Gazdaság and is also under a 4.6% forecast by KSH's research institute Ecostat.
Compared to Q2 2005, Hungary's GDP rose 1.1% in Q3 according to seasonally adjusted figures, KSH reported. Gross value added in the goods producing sectors rose 5.6% year-on-year and rose 4.2% in services, KSH added. The revised new-methodology data show that calendar-adjusted GDP grew at the same 4.5% year-on-year rate in Q2 and Q3 after growing by 4% year-on-year in Q1.
Calendar-adjusted 2004 GDP growth was revised upwards to 4.5% from 4.1% to reflect new methodology which raised unadjusted 2004 GDP growth to 4.6% from 4.2%. GDP increased 4% year-on-year in Q1 2005 (up from an earlier estimate of 3.6%) and GDP increased 4.55 in Q2 (up from a preliminary 4.1%) according to revised calendar-adjusted figures reflecting the new methodology. The new methodology raises GDP growth by some 0.4 percentage points, Ecostat said earlier.
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.