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Kopint-Tárki lowers 2010 GDP growth projection to 1.2%

Kopint-Tárki on Thursday said it lowered its projection for Hungary's GDP growth in 2010 to 1.2% from 1.5%.

Kopint-Tárki chief Éva Palócz said the projection was lowered because of slowing wage growth and a higher rate of household savings. The economic research company changed its 2010 forecast for final household consumption to a fall of 2.5% from a drop of 1.5%, she added.

The government forecasts GDP growth of 0.6% in 2010. The IMF projects the same rate.

Kopint-Tárki left its projection for GDP growth in 2011 unchanged at 3%. (MTI-Econews)