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Country Report Hungary Product Image

Country Report Hungary

  • ID: 2101527
  • November 2014
  • Region: Hungary
  • 27 Pages
  • The Economist Intelligence Unit

Year-on-year real GDP growth was 3.2% in the third quarter, down from 3.9% in the second quarter, while quarter-on-quarter growth slowed to 0.5%, according to preliminary Central Statistical Office data.

The GDP breakdown for July-September will be published in December, but the third-quarter growth slowdown may have reflected a relatively high base in the same quarter of 2013, plus a tapering in government spending after the April 2014 parliamentary election.

By sector, separate statistical office data have shown relatively modest third-quarter growth in industry, which was the main driver of growth in the first half. Summer production breaks and other one-off capacity decisions in the auto industry, which accounts for more than one-quarter of manufacturing output, were mainly responsible for the August-September slowdown.

Country Report Hungary

GDP growth slows in third quarter to 3.2% year on year
Impact on the forecast

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