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. GDP Annual Growth Rate in Hungary averaged 2.54 percent from 1996 until 2019, reaching an all time high of 5.60 percent in the first quarter of 2000 and a record low of -7.90 percent in the second quarter of 2009.
GDP Annual Growth Rate in Hungary is expected to be 4.50 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 3.20 in 12 months time. In the long-term, the Hungary GDP Annual Growth Rate is projected to trend around 3.00 percent in 2020, according to our econometric models.