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Hungary adjusts GDP growth in Q3 to 2.2 pct

Xinhua, December 6, 2016 Adjust font size:

The Hungarian Central Statistical Office (KSH) on Tuesday up-adjusted estimate for GDP in the third quarter to 2.2 percent year on year from its first estimate of 2.0 percent.

The KSH attributed the growth primarily to the gains in market-based services and agriculture.

Agriculture performed strongly, shooting up by 21 percent, while service increased 2.6 percent.

Manufacturing also saw slight yearly increase of 0.7 percent, while building suffered 12 percent decline.

The building sector knocked 0.4 percentage points off the growth rate.

Overall consumption was up by 3.0 percent on year, with household expenditure up by 4.5 percent.

But the volume of benefits in kind received from the government was down by 0.1 percent and public sector consumption declined by 1.6 percent.

Gross fixed asset accumulation was sharply down by 8.8 percent, mainly because investment projects financed by the European Union had all been completed before Q3.

In trade, Hungary saw a trade surplus of 876 billion forints (about 3 billion dollars) in the quarter with exports up by 4.6 percent and imports by 5.3 percent. Enditem