The Hungarian economy shrank 3.7 percent year-on-year in the fourth quarter of 2020, following a 4.6 percent contraction in the previous period and less than market expectations of a 6 percent slump, a preliminary estimate showed. On a seasonally adjusted quarterly basis, the economy advanced 1.1 percent, slowing from a record 11.4 percent growth in the previous period, supported by industry as well as information and communication. Considering the full year of 2020, the GDP contracted 5.1 percent over a year earlier. source: Hungarian Central Statistical Office
GDP Annual Growth Rate in Hungary averaged 2.31 percent from 1996 until 2020, reaching an all time high of 5.90 percent in the first quarter of 2000 and a record low of -13.60 percent in the second quarter of 2020. This page provides - Hungary GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Hungary GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on February of 2021.
GDP Annual Growth Rate in Hungary is expected to be -2.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Hungary to stand at 3.80 in 12 months time. In the long-term, the Hungary GDP Annual Growth Rate is projected to trend around 2.60 percent in 2022, according to our econometric models.