Hungary Economy Expands As Estimated In Q2

Hungary's economy expanded marginally as initially estimated in the second quarter, the latest data from the Hungarian Central Statistical Office showed on Tuesday.

On an unadjusted basis, gross domestic product rose 0.1 percent in the first quarter from last year, after stagnation in the first quarter. That was in line with the flash data published on July 30.

The expenditure breakdown showed that household final consumption expenditure rose 5.0 percent from last year, and government consumption was 9.8 percent higher.

On the other side, gross fixed capital formation fell sharply by 7.0 percent due to weaker investments in construction, machinery, and equipment. The volume of exports dropped 0.9 percent, while imports rose by 4.0 percent.

On an adjusted basis, GDP rose 0.2 percent in the second quarter versus a 0.4 percent decline in the previous quarter, confirming the earlier estimate.

Compared to the previous quarter, the Hungarian economy recovered 0.4 percent after a 0.1 percent contraction in the March quarter, as estimated.

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