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GKI puts 2011 GDP growth at 2.7%

GKI projects Hungary's economy will expand by 2.7% in 2011, over the European Union average, but slightly under the government forecast for 3% GDP growth, the economic research institute said on Monday.

GKI puts industrial output up 9% in 2011, slowing from 10% growth in 2010. It sees investment growth reaching 4% in 2011, practically level with the rate in 2010.

The number of homes built is set to fall to 16,000-18,000 in 2011 from 20,000 in 2010.

Retail sales are set to rise about 2% in 2011 and car sales could climb at a faster rate, according to GKI. Average real wages are expected to rise 2.5% in 2011, falling for childless, low- and middle-income households, but rising for high earners, GKI said. (Econews)