articleimg-1
Aug 14, 2019

Hungary’s GDP rose by an annual 4.9 percent in Q2 this year

The Central Statistical Office (KSH) has revealed that Hungary’s GDP rose by an annual 4.9 percent in the second quarter of 2019.

The Central Statistical Office (KSH) has revealed that Hungary’s GDP rose by an annual 4.9 percent in the second quarter of 2019.

According to MTI, the pace of growth decelerated from 5.3 percent in the first quarter. In the first half of the year unadjusted growth was 5.1 percent compared to 4.8 percent in the same period last year.

Market-based services, the construction sector and industry contributed mostly to growth in the second quarter of 2019. Adjusted for calendar year effects, GDP growth reached an annual 5.1 percent in the second quarter, down from 5.3 percent in the first quarter in Q1.

In the first half of the year the growth rate was 5.2 percent, up from 4.8 percent in the same period of 2018. In a quarter-on-quarter comparison, GDP growth was up at 1.1 percent in the second quarter, down from 1.4 percent in the first quarter, adjusted for seasonal and calendar year effects.

Hungary’s updated Convergence Programme puts GDP growth in 2019 at 4.0 percent.

Photo: bbj.hu