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Financial News: Hungary Q1 GDP Growth Unrevised

Hungary Q1 GDP Growth Unrevised

06/05/2018 - 03:53:00 (RTTNews)

(RTTNews) - Hungary's economic growth held steady as initially estimated in the first quarter, latest figures from the Hungarian Central Statistical Office showed Tuesday.

Gross domestic product advanced an unadjusted 4.4 percent year-over-year in the March quarter, the same rate of increase as in the December quarter. That was in line with the flash data published on May 15.

On the expenditure side, household final consumption grew 5.9 percent over the year and gross fixed capital formation surged by 17.0 percent.

Both exports and imports climbed by 3.5 percent and 3.8 percent, respectively.

On a seasonally and calendar adjusted basis, the annual GDP growth slowed to 4.7 percent in the March quarter from 4.9 percent in the previous quarter.

Quarter-on-quarter, the economy expanded 1.2 percent from the fourth quarter, when it grew by 1.3 percent. The preliminary estimate was confirmed.

Another report from the statistical office showed that annual retail sales growth eased to 6.0 percent in April from 7.2 percent in March. Meanwhile, the growth was forecast to accelerate to 7.5 percent.

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