Hungarian GDP growth slows down to 4.4 pct in Q2

Source: Xinhua | 2018-08-15

The Hungarian economy grew by 4.4 percent year-on-year in the second quarter of 2018, down slightly from the previous three months, the Hungarian Central Statistical Office (KSH) announced here on Tuesday.

But the figure exceeds the expectations of economists, who had forecast an increase of only 4.2 percent.

In the first quarter, the Hungarian economy grew by 4.7 percent compared to 3.8 percent for the same period in 2017.

These figures are adjusted for seasonal and calendar effects.

"Growth was mainly pulled in the second quarter by services, the construction sector, while the contribution of industrial production was more modest," according to the online economic journal Portfolio.hu.

In the first six months of the year, the Hungarian economy grew by 4.6 percent, KSH added.