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Hungarian GDP grows by 2.0 pct in Q3

Xinhua, November 15, 2016 Adjust font size:

Hungary's gross domestic product (GDP) grew by 2.0 percent year-on-year in the third quarter (Q3) of 2016, according to preliminary data issued by the Hungarian Central Statistical Office on Tuesday.

At the same time, it revised the data for Q2 to be 2.8 percent growth year-on-year against the preliminary estimate of 2.6 percent.

The GDP growth for the first half of the year was recalculated to be 2.0 percent against the 1.9 percent reported earlier.

According to the statistical office, services and agriculture were the driving forces of the quarter, with the building industry declining and industry flat.

In September, the volume of industrial output declined by 3.7 percent year-on-year, while the building industry was 13.2 percent lower than a year earlier.

After adjustment for seasonal and calendar effects, on first estimate the GDP grew by 0.2 percent in Q3 month-on-month, following a 1.0 percent growth in Q2 and a 0.7 percent decrease in Q1 month-on-month respectively. Endit