Hungary’s gross domestic product advanced by 4% from a year earlier in the third quarter of 2022, in line with a preliminary estimate, slower than a 6.5% rise in the previous period. This marks the sixth consecutive quarter of expansion but the weakest growth rate in the sequence, amid fading low-base effects. Growth slowed in services (5.6% vs 10.5% in Q2), mainly accommodation & food services (6.4% vs 47.9%), transportation & storage (11.5% vs 20.4%) and information & communication (5.4% vs 13.1%). Additionally, agricultural activity plunged further (-39.3% vs -35.6%). Meanwhile, industrial output continued to rise solidly (9.6% vs 3.9%), mainly boosted by strong performance in manufacturing (10.6% vs 4.9%). On a seasonally adjusted quarterly basis, the economy shrank by 0.4%, its first contraction since Q2 of 2020, matching an earlier estimate and after a 0.8% rise in the previous quarter. source: Hungarian Central Statistical Office
GDP Annual Growth Rate in Hungary averaged 2.66 percent from 1996 until 2022, reaching an all time high of 17.80 percent in the second quarter of 2021 and a record low of -12.90 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 2023.
GDP Annual Growth Rate in Hungary is expected to be -0.10 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Hungary GDP Annual Growth Rate is projected to trend around 2.20 percent in 2024 and 3.00 percent in 2025, according to our econometric models.