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FX.co ★ Hungary Economic Growth Slows In Q2

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typeContent_19130:::2022-08-17T08:39:00

Hungary Economic Growth Slows In Q2

Hungary's economic growth eased in the second quarter, after improving in the previous two quarters, preliminary data from the Hungarian Central Statistical Office showed on Wednesday.

Gross domestic product advanced an unadjusted 6.5 percent year-on-year in the second quarter, slower than the previous quarter's 8.2 percent increase.

On an adjusted basis, annual GDP growth also moderated to 6.5 percent in the June quarter from 8.0 percent in the March quarter.

Almost all sections contributed to the overall growth in the second quarter, particularly industry and market services. However, the economic expansion was slowed by a significant downturn in agriculture.

Compared to the previous quarter, the Hungarian economy expanded an adjusted 1.1 percent in the second quarter, following a 2.1 percent rise in the preceding three-month period.

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