UPDATE - Hungary growth slowed to 1.5% in Q2 - KSH estimate

MNB

Hungary's GDP rose an unadjusted 1.5% in Q2 from the same period a year earlier, slowing from 2.5% growth in the previous quarter, the Central Statistics Office (KSH) said in a preliminary estimate on Tuesday.

Analysts had put GDP growth for the period at 2.1-2.3%.

Quarter-on-quarter, GDP stagnated in Q2 after edging up 0.3% in Q1, according to seasonally- and calendar year-adjusted data.

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

In a year-on-year comparison, Hungary's GDP rose for the sixth quarter in a row in Q2 after falling for five consecutive quarters between Q4 2008 and Q4 2009.

In a quarter-on-quarter comparison, GDP rose between 0.1% and 1.0% for six quarters in a row before stagnating in Q2.

Hungary's GDP grew an unadjusted 1.2% in 2010 after falling 6.7% in 2009.

KSH will publish detailed data on Q2 GDP on September 8.

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