Hungary's GDP Rises 0.6% in the Third Quarter

Hungary's GDP rose 0.6% in the third quarter compared to the same period a year earlier, the Central Statistics Office (KSH) confirmed in a second reading of data on Tuesday.

Services boosted GDP by 0.9 percentage points, while the construction sector added 0.1 percentage points to growth. Industry weighed 0.3 percentage points and the farming sector 0.2 percentage points on the headline figure. The balance of product taxes and subsidies raised GDP by 0.1 percentage points.

On the consumption side, final consumption contributed 0.4 percentage points and gross capital formation 3.5 percentage points to GDP, while the trade balance dragged the headline figure down by 3.3 percentage points.

In a quarter-on-quarter comparison, seasonally- and calendar year-adjusted GDP stagnated.

For the period Q1-Q3, GDP rose 0.3%, according to unadjusted data, and edged up 0.2% when adjusted for seasonal and calendar year effects.