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Financial News: Hungary Q3 Economic Growth Eases

Hungary Q3 Economic Growth Eases

11/15/2022 - 08:06:00 (RTTNews)

(RTTNews) - Hungary's economic growth eased further in the three months ended September, preliminary data from the Hungarian Central Statistical Office showed on Tuesday.

Gross domestic product advanced an unadjusted 4.0 percent year-on-year in the third quarter, slower than the previous quarter's 6.5 percent increase.

On an adjusted basis, annual GDP growth also moderated to 3.8 percent in the September quarter from 6.5 percent in the June quarter.

Almost all sections contributed to the increase, but mostly industry and market services, while a considerable downturn in agriculture slowed the growth.

Compared to the previous quarter, GDP fell an adjusted 0.4 percent in the third quarter, reversing a 0.8 percent rise in the preceding three-month period. It was the first contraction since the third quarter of 2020.

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