Decreasing GDP growth in Q1
Tuesday, May 31, 2005, 09:04
Prior statistics show that Hungary?s GDP increased by 2.9% in Q1 2005 y/y - Central Statistics Office (KSH) reported. Adjusted for calendar effects the rate is 3.5%. The increase was 0.7% as compared to the preceding quarter, by the seasonally adjusted data. The gross value added of non-service industries shows a 1.5% growth compared to the corresponding period of the previous year, while service industries increased by 3.6%. Experts estimated 3.33% growth for the whole year that means a serious decrease as compared to the 3.94% consensus of the previous quarter.