weak second quarter Hungary's GDP data surprised even analysts, with only two EU member states performing worse than the previous quarter.
- All year round Hungary’s economic performance could indeed be among the best. True, this is partly due to the poor data last year, because it is easy to grow compared to it.
What happened? In the second quarter of this year, Hungary's GDP fell by 0.2 percent compared to the previous quarter, and rose by 1.3 percent compared to the second quarter of last year.
- Quarterly basis of growth Only Sweden and Latvia were weaker (-0.8 and -1.1 percent), but the data compared to the previous year was eighth among the 22 countries that reported data – this is what Newly published Eurostat data based on
dateAccording to the calendar effect and seasonally adjusted data, on an annual basis, the Hungarian economy grew by 1.6 percent in the first quarter and 1.3 percent in the second quarter.
- negative surprise The reason for this was the second quarter data published at the end of July, and based on that, an exceptionally good second half of the year will be needed to meet the government's growth forecast of 2 percent (which was 4 percent at the start of the year).
date: Hungary's GDP fell by 0.9 percent last year, year-on-year. The fifth worst Economic performance in the European Union area was based on Eurostat data.
What to expect? According to the European Commission's forecasts, Hungary's growth figure for the year as a whole will be among the strongest in the EU, which is also contributed to by the fact that last year's weak result represents a low base.
- Compared to other forecasts The European Commission's forecasts are already optimistic, a Portfolio.huSelf-declared analysts had forecast annual growth of between 1.5 and 2 percent after the release of second-quarter data.
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