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Q2 GDP up 4.1% year on year, driven by exports

Hungary's GDP rose by 4.1% year on year in volume terms in the second quarter of 2005 both before and after adjustment for calendar effect, the Central Statistics Office (KSH) announced on Thursday, leaving preliminary figures released on August 30 unchanged. Export growth remained the main engine of growth in Q2 while household rose at a higher pace than in Q1 but still below average growth. Q2 GDP rose 1.2% from Q1 according to seasonally adjusted figures. KSH revised Q1 quarter-on-quarter growth to 0.9% from 0.7%, the figures show. First-half GDP rose 3.9% year on year if adjusted for calendar effect and rose an unadjusted 3.5%, in a moderate slowdown from the 4.1% and 4.2% respective growth rates in 2002.