Hungary GDP grows 6.5 percent in Q2

Hungary’s GDP grew by an annual 6.5 percent in the second quarter, slowing from 8.2 percent in Q1, the Central Statistical Office (KSH) said in a first reading of data released on Wednesday.

KSH said all branches of the national economy contributed to headline growth, with the exception of the farm sector. Growth was supported especially by industry, particularly food and drink production and electrical equipment manufacturing, and by market services, notably commercial accommodations and catering, and logistics services, it added.

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Adjusted for seasonal and calendar year effects, Q2 GDP growth was level with the unadjusted figure. In a quarter-on-quarter comparison, adjusted GDP rose by 1.1 percent. First-half GDP growth climbed 7.3 percent year-on-year.