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Analysts project growth again from H2

Hungary's economy could start growing in the second half of 2010, but it is likely to stagnate for the full year, analysts told MTI on Wednesday, after the Central Statistical Office (KSH) published a second reading of Q4 GDP data.

Hungary's economy contracted an unadjusted 4% in Q4 from the same period a year earlier and it fell 6.3% for the full year, KSH said. The figures were unchanged from the first reading.

Buda-Cash Brókerház analyst Zoltán Réczey said the latest industrial output data from January show an improvement. GDP could start to grow in the second half of the year, but the economy will probably stagnate for the full year, depending on global trends, he added.

CIB Bank's György Barta also said a slow pickup would start in the middle of 2010, but the economy would be flat for the full year. (MTI-Econews)