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Financial News: Hungary GDP Expands At Faster Pace

Hungary GDP Expands At Faster Pace

05/17/2022 - 09:38:00 (RTTNews)

(RTTNews) - Hungary's economic growth accelerated for the second straight quarter in the three months ended March, the Hungarian Central Statistical Office reported Tuesday.

Gross domestic product advanced an unadjusted 8.2 percent year-on-year in the first quarter, faster than previous quarter's 7.1 percent increase.

On an adjusted basis, annual GDP growth improved to 8.0 percent in the March quarter from 7.1 percent in the December quarter.

Compared to the previous quarter, the Hungarian economy expanded an adjusted 2.1 percent in the first quarter, which was slightly slower than the 2.2 percent rise seen in the fourth quarter.

The latest positive performance of the economy was largely underpinned by industry and market services, the report said.

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