Hungarian Economy Grows Unexpectedly in the Second Quarter of 2018
Hungary’s economy grew by an annual 4.8 percent in the second quarter of 2018, up from 4.4 percent in the previous quarter, the Central Statistical Office (KSH) said on Wednesday. Its second Q2 reading was revised up from a preliminary 4.6 percent.
KSH attributed the upward revision to better than expected performance of market-based services, which contributed the most to growth. Adjusted for seasonal and calendar year effects, the pace of economic growth quickened to 4.6 percent, up from 4.4 percent in the first reading.
Quarter on quarter, GDP rose by an adjusted 1 percent, slowing from 1.2 percent in Q1 but up from 0.9 percent in the first reading. Growth in the first half of the year was revised up by 0.1 percentage point to an unadjusted 4.6 percent and an adjusted 4.7 percent.