Unkari - BKT Annual Growth Rate

Hungary’s gross domestic product expanded 5.0 percent year-on-year in the third quarter of 2019, following a 4.9 percent growth in the previous period and well above market consensus of 4.7 percent, a flash estimate showed. On a seasonally adjusted quarterly basis, the economy advanced 1.1 percent, unchanged from the previous period.

Hungary's gross domestic product expanded 4.9 percent year-on-year in the second quarter of 2019, slowing from a 15-year high of 5.3 percent in the previous period and in line with preliminary estimates. It was the lowest growth since the second quarter of 2018, as output for industry rose 3.1 percent, after a 5.8 percent gain in Q1, namely manufacturing (3.1 percent vs 5.8 percent). Also, construction activity climbed 27.9 percent, easing from a 46.7 percent jump. On a seasonally adjusted quarterly basis, the GDP advanced 1.1 percent, following a 1.4 percent growth in Q1.

The Hungarian economy advanced 4.9 percent year-on-year in the second quarter of 2019, slowing from a 15-year high of 5.3 percent in the previous period, but still above market expectations of a 4.6 percent rise, preliminary estimates showed. It was the slowest expansion in a year, as output grew less for construction and manufacturing. On a seasonally adjusted quarterly basis, the GDP rose 1.1 percent, after a downwardly revised 1.4 percent growth in the previous quarter.

The Hungarian economy advanced 5.3 percent year-on-year in the first quarter of 2019, following a 5.1 percent rise in the previous period and in line with preliminary estimate. It was the highest growth rate since the third quarter of 2004, as government consumption rebounded (2.1 percent vs -7.0 percent in Q4) and household consumption increased faster (4.8 percent vs 4.3 percent) while gross fixed capital formation rose sharply (23.4 percent vs 17.2 percent). Net foreign demand contributed positively to GDP, as exports went up 7.7 percent (from 5.6 percent in Q4) while imports increased at a softer 6.7 percent (from 8.2 percent in Q4). On a seasonally adjusted quarterly basis, the economy expanded 1.5 percent, accelerating from a 1.1 percent rise in the previous period.

The Hungarian economy advanced 5.3 percent year-on-year in the first quarter of 2019, following a 5.1 percent expansion in the previous period and beating market expectations of 5.1 percent, a preliminary estimate showed. It was the strongest growth rate since the second quarter of 2004, mainly boosted by market services, construction and industry output. On a seasonally adjusted quarterly basis, the economy grew 1.5 percent, up from an upwardly revised 1.0 percent expansion in the prior period.

The Hungarian economy advanced 5.1 percent year-on-year in the fourth quarter of 2018, the same pace as in the previous period and slightly above a preliminary estimate of 5.0 percent. It remained the highest growth rate since the third quarter of 2014, as social transfers in kind from government rose 1.0 percent (vs 0.2 percent in Q3). Household consumption slowed to 5.0 percent, after expanding 5.4 percent in the prior period and fixed investment grew 17.2 percent (20 percent in Q3). Meantime, net external demand contributed negatively to the GDP as exports increased 5.6 percent (vs 2.3 percent) and imports rose at a faster 8.2 percent (vs 6.2 percent). On a seasonally adjusted quarterly basis, the economy expanded 1 percent, down from an upwardly revised 1.4 percent in the previous period. Considering full 2018, the economy grew 4.9 percent compared to a year earlier.