GDP growth in Hungary
Hungary’s GDP grew by an annual 4.0 percent in the third quarter, slowing from 6.5 percent in Q2, the Central Statistical Office (KSH) confirmed in a second reading of data released on Thursday.
Adjusted for seasonal and calendar year effects, Q3 GDP growth was 4.1 percent.
![bmw electric car](https://contentf5.dailynewshungary.com/wp-content/uploads/2020/08/bmw-electric-car.jpg)
Read alsoHungary to become world great power in the electric car industry
Quarter on quarter, adjusted GDP fell by 0.4 percent.
GDP growth in Q1-Q3 climbed by an annual 6.1 percent.
On the production side, services added 3.4 percentage points to third-quarter year-on-year headline growth, while industry contributed 1.7 percentage points and construction 0.1 percentage point. The farm sector, hit by drought, shaved 1.8 percentage points off headline growth.
On the expenditure side, final consumption contributed 2.3 percentage points to growth, while gross capital formation cut 0.8 percentage point off the headline figure. The trade balance added 2.5 percentage points to headline growth.
![Billions of euros](https://contentf5.dailynewshungary.com/wp-content/uploads/2022/11/Billions-of-euros-1024x450.webp)
Read alsoFinal decision: the EU unlocks billions of euros for Hungary! – UPDATED
Source: MTI
please make a donation here
Hot news
What happened today in Hungary? — 7 September, 2024
Spotted in Király Street: Woody Harrelson charms Budapest with his humour
INTERVIEW – Diplomatic insights: Pakistan’s Ambassador discusses trade, education, and bilateral relations between Pakistan and Hungary
Quietly closing: Dozens of Hungarian post offices shut down across the country
Hungary to boost cooperation with Kuwait
China considers building an aviation hub at Budapest Airport
1 Comment
The numbers might have been manufactured and artificial. As the country and it’s citizens are getting poorer and poorer unemployment will approach close to 10% by the first half of next year, how the GDP has been growing by 4 percentage point is a mystery to many