GDP up 6.1% y.o.y. in Q3
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The gross domestic product of Hungary increased by 6.1% according to both raw data and seasonally and calendar adjusted and reconciled data in the third quarter of 2021 compared to the corresponding period of the previous year, the Central Statistical Office (KSH) reports.
GDP was 1.5% higher according to raw data than in the third quarter of 2019.
In the first three quarters of 2021, the performance of the economy was 7.1% higher (6.8% higher according to seasonally and calendar adjusted and reconciled data) than in the corresponding period of 2020.
Compared to the previous quarter, the performance of the economy grew by 0.7% in the third quarter of 2021. The main contributor to the increase was market services.
The "annualized index", built on dynamics projected for the future and published for a long time in U.S. dissemination practice, indicates a 2.7% growth for the third quarter. The annualized index shows the extent of annual change supposing that the volume change in the current quarter – compared to the previous quarter – continued for four quarters.
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