GDP Increases 1pct in Q2

Hungary’s GDP increased by 1pct in the second quarter of 2010 (and by 0.8pct when adjusted for calendar effects) compared to the corresponding period of last year.

According to seasonally adjusted data, economic performance remained dormant when compared to the previous quarter.
Non-adjusted figures showed that the decline in economic performance stopped in the first quarter of 2010. In the second quarter, GDP increased by 1pct from last year’s low base, and was 6pct lower than the 2008 average. GDP growth in the second quarter was mainly due to high industrial production and the external trade surplus.

 

News Monitoring