Hungary GDP up 4% y.o.y. in Q3

Analysis

Photo by Feng Yu / Shutterstock.com

Hungary’s gross domestic product increased by 4% according to raw data and by 4.1% according to seasonally and calendar-adjusted and reconciled data in Q3 2022 compared to the corresponding period of 2021, according to the Central Statistical Office (KSH).

 

Almost all sections contributed to the increase, with the industry and market services sections being the driving force behind the growth.

Significant growth was recorded in the manufacture of motor vehicles, trailers, and semi-trailers; the manufacture of computer, electronic and optical products; as well as the manufacture of electrical equipment within industry; and mostly in transportation and storage as well as professional, scientific, technical and administrative activities among market services.

A considerable downturn in agriculture slowed the increase, KSH notes.

Compared to the previous quarter, the performance of the economy was down by 0.4% in the third quarter of 2022.

The economic performance was 6.1% higher in Q1-Q3 2022 according to both raw data and seasonally and calendar-adjusted and reconciled data than in the corresponding period of the previous year.

ADVERTISEMENT

Nagy: More Involvement in Insurance Market Banking

Nagy: More Involvement in Insurance Market

MPs Approve Tax Changes Parliament

MPs Approve Tax Changes

Home Loan Rates Climb Over 10% Residential

Home Loan Rates Climb Over 10%

Countries Exchange Experiences for Better Production of Catt... Conferences

Countries Exchange Experiences for Better Production of Catt...

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.