Hungarian Parliament building

Hungary GDP Q3 2018

Hungary: Growth remains strong in Q3

The Hungarian economy continued to expand robustly in the third quarter. According to preliminary data released by the Hungarian Central Statistics Office (KSH) on 14 November, economic growth in Q3 came in at 4.8% in year-on-year terms. This was marginally below the second quarter’s 4.9% year-on-year expansion but the fifth consecutive quarter of annual growth above 4.0% nonetheless.

Household spending likely remained buoyant in the quarter. Retail sales expanded at a solid pace throughout Q3, underpinned by tight labor market conditions and robust wage gains. Upbeat business sentiment and a strong construction sector also suggests fixed investment also expanded solidly, on the back of growing EU funds. Additionally, industrial production growth picked up some pace from the previous quarter, although the scope of the acceleration was limited by a marked cooling in the industrial sector in the EU, especially in Germany—the country’s main trading partner.

On a quarter-on-quarter, seasonally- and calendar-adjusted basis, GDP growth inched up from 1.1% in Q2 to 1.2% in Q3.

More detailed data will be released on 5 December.

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest X Download Fullscreen