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Financial News: Hungary Growth Weakest In Four Quarters

Hungary Growth Weakest In Four Quarters

08/14/2019 - 09:42:00 (RTTNews)

(RTTNews) - Hungary's economic growth slowed less than expected in the three months to June, but was the weakest in four quarters, preliminary estimates from the Hungarian Central Statistical Office showed on Wednesday.

Gross domestic product grew a seasonally non-adjusted 4.9 percent year-on-year after a 5.3 percent increase in the first quarter. Economists had forecast 4.6 percent growth.

Calendar adjusted annual growth eased to 5.1 percent from 5.3 percent.

On a seasonally and calendar-adjusted basis, GDP growth slowed to 5.1 percent from 5.2 percent. Quarterly growth eased to 1.1 percent from 1.4 percent.

The main contributors to the growth were industry, construction and market-based services, the agency said.

For the first half of the year, GDP grew a non-adjusted 5.1 percent and a calendar adjusted 5.2 percent from a year ago. On a seasonally and calendar-adjusted basis, growth was 5.2 percent.

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