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Hungary GDP growth accelerates to 1.9% in Q4

Hungary's unadjusted year-on-year GDP growth accelerated to 1.9% in Q4 2010 from 1.7% in Q3, the Central Statistical Office (KSH) said on Friday in a second reading.

The figure is slightly under the 2% preliminary reading published on February 15.

Hungary's economy grew by 1.2% for the full year in 2010, KSH said. The figure is the same as the preliminary one.

Calendar year-adjusted year-on-year GDP growth was 1.7% in Q4. Seasonally-adjusted quarter-on-quarter growth reached 0.2%.

In absolute terms, Hungary's GDP was HUF 27,120 billion, at current prices, in 2010. Per capita GDP was HUF 2,712,000.

In a breakdown by economic sector, KSH said Hungary's industrial sector grew 9.7% in Q4 from the same period a year earlier. Within the sector, manufacturing growth reached 11.3%.

The construction industry contracted 7.2% and the agriculture sector contracted 8.6%.

The service sector grew 0.9%. The trade, accommodation and catering segment grew just 0.7% but the logistics, postal and telecommunications segment expanded 2.8%. The public administration, education, health and social services segment showed growth of 0.3%.