ADVERTISEMENT

Hungary’s GDP up 4.1% in first quarter

EU

shutterstock

Hungary’s GDP grew by 4.1% in the first quarter of the year compared to the corresponding period a year earlier, the Central Statistical Office (KSH) said today in a first estimate of data. The main contributors to the growth were industry and market-based services, the KSH said.

According to seasonally and calendar-adjusted and reconciled data, the volume of gross domestic product increased by 3.7% compared to the corresponding period of the previous year, the stats office added.

Compared to the preceding quarter (Q4 2016), GDP was up by 1.3% in Q1.

The consensus forecast of analysts was for 3.5% growth, notes Hungarian news agency MTI. The growth is the highest since the second quarter of 2014, when a figure of 4.5% was registered, and is also the highest first-quarter figure since 2006.

MTI notes that the effects of EU subsidies appear to have been felt in the Q1 growth.

MTI also notes that the construction sector showed 24.7% growth in the first three months of the year, compared to the low base in Q1 2016.

ADVERTISEMENT

Business, consumer confidence slip in May Analysis

Business, consumer confidence slip in May

Parl't elects Orbán prime minister Parliament

Parl't elects Orbán prime minister

New managing director at LG Electronics Hungary Appointments

New managing director at LG Electronics Hungary

Airport bus fare could rise to HUF 1,500 City

Airport bus fare could rise to HUF 1,500

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.