KSH said the industrial and farm sectors were the engines of growth during the period. Pál Pozsonyi, a department head at the office, said growth may have slowed from Q2 because of lower output of the automotive industry in August and an economic slowdown in Germany. A second reading of the data will be published on December 3.

K&H analyst Dávid Németh said growth in the quarter had been over the bank’s estimate of 2.9%. He added that added value in the farm, industrial and construction sectors were likely behind the scale of the increase.

Senior Buda-Cash Brókerház analyst Péter Fazakas also said growth was higher than expected, considering trade data suggested a moderate contribution by net exports, and retail sales, too, were soft.