Hungary’s Q1 economic stagnation confirmed, OECD predicts turnaround
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Hungary’s GDP remained flat in the first quarter of 2025 compared to the same period last year, the Central Statistics Office (KSH) confirmed on Tuesday. Despite the sluggish start, the OECD projects a gradual recovery in the coming years, signaling renewed momentum for the Hungarian economy after a prolonged slowdown.
Hungary GDP flat in Q1, KSH confirms
Hungary’s GDP stagnated in the first quarter compared to the same period a year earlier, the Central Statistics Office (KSH) confirmed in a second reading of data on Tuesday.
Adjusted for seasonal and calendar year effects, GDP edged 0.4pc lower.
Services boosted GDP by 0.7pp, while industry weighed 0.7pp and the construction sector 0.2pp on the headline figure. The balance of product taxes and subsidies added 0.1pp to GDP while the impact of the farm sector was practically neutral.
On the consumption side, final consumption contributed 2.2pp to GDP, while investments and the trade balance dragged the headline figure down by 1.9pp and 0.3pp, respectively.