Hungary's GDP Up 4.9% In Second Quarter
- 15 Aug 2019 8:06 AM
- Hungary Matters
Hungary's GDP rose by an annual 4.9% in the second quarter of 2019, the Central Statistical Office (KSH) said in a first reading of data.
The pace of growth decelerated from 5.3% in the first quarter. In the first half of the year unadjusted growth was 5.1% compared to 4.8% in the same period last year.
Market-based services, the construction sector and industry contributed mostly to growth in the second quarter of 2019, KSH said.
Adjusted for calendar year effects, GDP growth reached an annual 5.1% in the second quarter, down from 5.3% in the first quarter. In the first half of the year the growth rate was 5.2%, up from 4.8% in the same period last year.
In a quarter-on-quarter comparison, GDP growth was up 1.1% in the second quarter, down from 1.4% in the first quarter, adjusted for seasonal and calendar year effects. Reconciled data, adjusted for seasonal and calendar year effects, show GDP climbed by an annual 5.1% in the second quarter, edging down from a 5.2% expansion in the first quarter.
Hungary’s updated Convergence Programme puts GDP growth for this year at 4.0%.
Analysts said the growth rate had exceeded expectations.
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