Hungary’s Q3 GDP growth rises to 3.6 pct y/y -stats

Hungary’s economic growth accelerated to an annual 3.6 percent in the third quarter from a revised 3.3 percent in the second quarter, preliminary unadjusted data showed on Tuesday. Analysts in a Reuters poll forecast a 3.65-percent increase in third-quarter gross domestic product. Growth was driven primarily by market services, the KSH said in a statement. The economy grew by 3.7 percent in unadjusted terms in the January-September period.

The government has estimated full-year growth at 4.1 percent in 2017, rising to 4.3 percent in 2018.

KSH STATISTICIAN ZSUZSANNA BOROS

“Within market services, trade and professional, scientific and technical activity were driving growth. Industrial output has also expanded. The agricultural sector has had an average year, although last year produced a very high base. “The construction sector has also contributed to growth.”

GDP CHANGE Q3 2017 Q2 2017 Q3 2016 Unadjusted y/y 3.6 3.3 2.5 Calendar-adjusted y/y 3.8 3.6 2.3 Seasonally and 0.8 0.9 0.6 calendar-adjusted q/q
Source: Reuters (Reporting by Gergely Szakacs)

Source.