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Hungarian GDP grows 3.5 pct in Q1: second estimate

Xinhua, June 5, 2015 Adjust font size:

Hungarian gross domestic product (GDP) growth for the first quarter of 2015 stood at 3.5 percent year-on-year and 0.8 percent over the last quarter of 2014 in the second estimate of the Hungarian Central Statistical Office on Friday.

The first estimate, issued in May, reported a 3.4 percent GDP growth year on year, and 0.6 percent compared to the previous quarter.

The current estimate, when stripped of calendar and seasonal effects, found a net 3.3 percent GDP growth. The previous estimate was 3.1 percent.

A statement issued by the National Economy Ministry notes that this growth was significantly faster than the 1.4 percent average for the European Union as a whole.

It predicted that Hungary would keep to the 3.1 percent GDP growth for the year as targeted by the government. It also noted that the growth structure has been healthier and more balanced, ever since 2013.

The Central Statistical Office plans to issue its first estimate of Q2 of 2015 data on August 14, 2015. Endit