Hungary’s GDP grows 1.7% y/y in Q3 2013, beats expectations – flash estimate.

By bne IntelliNews November 15, 2013

Hungary’s economy expanded by 1.7% y/y in Q3 2013, speeding up from a 0.5% y/y rise in the previous quarter, the statistics office said in a flash estimate. The reading surprised the market, as the consensus forecast of analysts, polled by portfolio.hu, was for a 0.8% y/y increase in Q3.

On a quarterly basis, the GDP grew by 0.8% q/q in Q3, also accelerating from a 0.4% q/q rise in Q2. 

Hungary was one of the top perfumers in the EU with seasonally adjusted GDP growth of 1.6% y/y in Q3, data from the Eurostat shwoed. The country was preceded by Romania (4.1%), Latvia (3.9%), Lithuania (2.2%) and Poland (1.7%).

The statistics office, which is due to release detailed GDP figures on December 4, said the economic growth was due to expanding agricultural, manufacturing and construction sectors.

The Hungarian government is targeting an annual growth of 0.7% in 2013, above the European Commission’s forecast of just 0.2%.

Meanwhile, the economy ministry said it expecta GDP growth to accelerate further to 2.5% q/q in Q4 2013, while the full-year growth could even surpass 1% y/y. 

Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

Hungarian branch of Bucharest listed Digi to buy Invitel Tavkozlesi in €140mn deal

Bucharest listed Digi Communications announced on July 21 that its Hungarian subsidiary, Digi Tavkozlesi es Szolgaltato, has signed an agreement to acquire Hungarian broadband and telephone provider ... more

Czech judiciary denounces Poland's move to end separation of powers

Senior Czech judges on July 21 denounced Poland's judicial overhaul as an attack on the rule of law. With big street protests in the Czech Republic's neighbour seemingly gathering momentum – 120 ... more

Hungary's MOL strikes licensing deals essential to $1.9bn petrochemical expansion ambitions

Hungary's MOL announced on July 20 that it has struck licensing deals with Germany's Evonik Industries and Thyssenkrupp that will be essential in its plan to roll out a $1.9bn investment in ... more

Most Read

  1. Erdogan lashes out at Germany, Nato, says "God willing" he'll have Russian missiles soon
    2 days ago
  2. STOLYPIN: Donbas continues to be as unpredictable as it is unloved
    2 days ago
  3. Ukrainian farmers turn to Donbas veterans for protection from raiders
    2 days ago
  4. EU allows Gazprom to use an additional 40% of OPAL gas pipeline's capacity
    3 days ago
  5. KRUK REPORT: Saakashvili is stripped of Ukrainian citizenship as Poroshenko’s re-election campaign gets underway
    19 hours ago
  1. Erdogan lashes out at Germany, Nato, says "God willing" he'll have Russian missiles soon
    2 days ago
  2. CHINA RISING: When sleeping giants meet
    16 days ago
  3. STOLYPIN: Donbas continues to be as unpredictable as it is unloved
    2 days ago
  4. Belarus’ retail king Euroopt goes on the road
    22 days ago
  5. STOLYPIN: Russia’s cyber-challenge cuts both ways
    24 days ago

Selected articles from our premium news/views wire IntelliNews Pro

Login to IntelliNews Pro
Get IntelliNews Pro

Reports

Dismiss