Hungary GDP up 6.5% y.o.y. in Q2

Analysis

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Hungary’s gross domestic product increased by 6.5% in the 2nd quarter of 2022 compared to the corresponding period of the previous year, according to data published by the Central Statistical Office (KSH).

 

Almost all sections contributed to the increase, but mostly industry and market services.

Significant growth was registered in the manufacture of food products and beverages as well as electrical equipment within industry and mostly accommodation and food service activities as well as transportation and storage among market services.

A considerable downturn in agriculture slowed the growth.

Compared to the previous quarter, the performance of the economy was up by 1.1% in Q2 2022.

The economic performance was 7.3% higher in the first half of 2022 than in the corresponding period of 2021.

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