The Hungarian economy shrank 4.6% year-on-year in the third quarter of 2020, in line with the preliminary estimate and following a 13.6% contraction in the previous three-month period. Activity fell less in hotels & restaurants (-20.9% vs -59.5% in Q2); real estate activities (-2.6% vs -6.2%); professional, scientific, technical and administrative activities (-9.6% vs -14.8%); education, health, social work & public administration (-1.7% vs -7.1%); arts and entertainment (-7.9% vs -26.9%) and manufacturing (-1.9% vs -21.7%). Meantime, growth was recorded in information & communication (5.3% vs -0.9%); finance & insurance (2.9% vs 3.5%) and internal trade (1.8% vs -4.2%).On a seasonally adjusted quarterly basis, the GDP advanced at a record 11.4%, slightly above a preliminary estimate of a 11.3% rise and recovering from an upwadly revised 14.6% plunge in the previous quarter. source: Hungarian Central Statistical Office
GDP Annual Growth Rate in Hungary averaged 2.37 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 December of 2020.
GDP Annual Growth Rate in Hungary is expected to be -8.50 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 10.00 in 12 months time. In the long-term, the Hungary GDP Annual Growth Rate is projected to trend around 7.80 percent in 2021 and 2.60 percent in 2022, according to our econometric models.