Hungary GDP Growth Rate

The Gross Domestic Product (GDP) in Hungary expanded 0.50 percent in the fourth quarter of 2013 over the previous quarter. GDP Growth Rate in Hungary is reported by the Hungarian Central Statistical Office. GDP Growth Rate in Hungary averaged 0.51 Percent from 1996 until 2013, reaching an all time high of 2.17 Percent in the first quarter of 2002 and a record low of -3.30 Percent in the first quarter of 2009. Hungarian economy is a medium-sized, structurally, politically, and institutionally open economy in Central Europe and is part of the EU single market. Hungary is a rapidly developing country and the fifth largest national economy in Central and Eastern Europe. This page provides - Hungary GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. 2014-04-24

Actual Previous Highest Lowest Forecast Dates Unit Frequency
0.50 0.80 2.17 -3.30 1.12 | 2014/03 1996 - 2013 Percent Quarterly


Hungary GDP Growth Rate

CALENDAR GMT Country Event Reference Actual Previous Consensus Forecast
2013-09-04 08:00 AM Hungary
GDP Growth Rate QoQ
Q2 2013 0.1% 0.7% 0.1% 0.72%
2013-11-14 08:00 AM Hungary
GDP Growth Rate QoQ - P.
Q3 2013 0.8% 0.1% 0.35%
2013-12-04 08:00 AM Hungary
GDP Growth Rate QoQ - Final
Q3 2013 0.9% 0.4% (R) 0.8% 0.35%
2014-02-14 08:00 AM Hungary
GDP Growth Rate QoQ
Q4 2013 0.6% 0.8% (R) 0.8%
2014-05-15 08:00 AM Hungary
GDP Growth Rate QoQ
Q1 2014 0.5% 1.12%
2014-08-14 08:00 AM Hungary
GDP Growth Rate QoQ
Q2 2014 1.15%

GDP Last Previous Highest Lowest Forecast Unit
GDP Growth Rate 0.50 2013-12-31 0.80 2.17 -3.30 1.12 2014-03-31 Percent [+]
GDP Annual Growth Rate 2.70 2013-12-31 1.80 5.00 -8.00 2.31 2014-03-31 Percent [+]
GDP Constant Prices 5888657.00 2013-11-15 5686461.00 6144216.00 3625132.00 5601137.65 2014-06-30 HUF Million [+]
Gross Fixed Capital Formation 1034603.00 2013-11-15 1042861.00 1317035.00 701271.00 1068360.66 2014-03-31 HUF Million [+]
GDP per capita 10974.32 2012-12-31 11132.79 11533.82 2037.07 10907.33 2014-06-30 USD [+]
GDP per capita PPP 17032.56 2012-12-31 17278.52 17900.93 11158.44 16928.59 2014-06-30 USD [+]
GDP 126.00 2012-12-31 139.00 155.44 4.69 114.61 2014-06-30 USD Billion [+]

GDP Growth Rate | Notes
The GDP Growth Rate shows a percentage change in the seasonally adjusted GDP value in the certain quarter, compared to the previous quarter. Because of climatic conditions and holidays, the intensity of the production varies throughout the year. This makes a direct comparison of two consecutive quarters difficult. In order to adjust for these conditions, many countries calculate the quarterly GDP using so called seasonally adjusted method. The Gross Domestic Product can be determined using three different approaches: the product, the income, and the expenditure technique, which should give the same result. In sum, the product technique sums the outputs of every class of enterprise. The expenditure technique works on the principle that every product must be bought by somebody, therefore the value of the total product must be equal to people's total expenditures in buying products and services. The income technique works on the principle that the incomes of the productive factors must be equal to the value of their product, and determines GDP by finding the sum of all producers' incomes.


Hungarian Inflation Rate Unchanged in March  
The annual consumer prices increased 0.1 percent in March of 2014, unchanged from 0.1 percent in the previous month. A year earlier, the inflation rate was recorded at 2.2 percent.
Hungary Unemployment Rate Falls to 8.6%  
In the three months to February of 2014, Hungarian jobless rate fell for the fourth consecutive month, from 8.9 percent in the previous period and 11.6 percent a year earlier. It is the lowest rate in five years.
Hungarian Inflation Rate Edges Up in February  
The annual consumer prices accelerated to 0.1 percent in February, after falling to zero in January, as food prices remained unchanged following a 0.2 percent drop in the previous month.
Hungary GDP Expands 2.7% YoY in Q4  
Hungarian economy advanced at a faster 2.7 percent in the last quarter of 2013, in line with a preliminary estimate and boosted by investment. The figure compares with 1.8 percent growth in the previous three-month period.
Hungary Unemployment Rate Continues to Fall  
In the three months to January of 2014, Hungarian jobless rate fell for the third straight time to 8.9 percent from 9.1 percent at the end of December and 9.3 percent in November.
Hungary Unemployment Rate Falls to 9.1%  
In the period October to December 2013, the unemployment rate in Hungary decreased to 9.1 percent, down from 9.3 percent in the previous period and 10.7 percent a year earlier. The number of unemployed people was 403 thousand, 65 thousand less than in the same period of 2012.
Hungary Inflation Rate Slows to 43-Year Low in December  
In December of 2013, Hungary’s annual inflation rate slowed to 0.4 percent, the lowest rate in more than 40 years, mainly due to a sharp fall in utilities' prices. Core inflation rate which excludes food and fuel remained unchanged at 3.5 percent.
Hungary Unemployment Rate Falls to Near 5-Year Low  
In the period September to November 2013, Hungary’s jobless rate decreased to 9.3 percent, the lowest rate since February of 2009, as the employment rate of people aged 15–64 increased by 1.5 percentage points over a year earlier.
Hungary Inflation Rate Steady at 0.9% in November  
In November of 2013, Hungarian annual CPI remained stable at 0.9 percent, the same rate recorded in October, as prices of electricity and natural gas decreased 10 percent due to new fees. Core annual inflation rate was recorded at 3.5 percent.
Hungary GDP Growth Accelerates to 1.8% YoY in Q3  
In the third quarter of 2013, the Hungarian economy advanced 1.8 percent over a year earlier, up from 1.7 percent in the initial estimate. It is the highest growth rate in the last two and a half years.


Swiss Trade Surplus Narrows Further in March  
The trade surplus decreased 10.6 percent in March of 2014 from the previous month to CHF 2.1 billion as imports rose at a higher pace than exports. Compared with a year earlier, the trade balance increased by 17.2 percent, driven by stronger sales of pharmaceuticals and chemicals products, and machinery to Europe and China.
Polish Unemployment Rate Falls in March  
Poland’s jobless rate dropped for the second straight month in March of 2014 to 13.5 percent, down from 13.9 percent in February and below market forecasts. A year earlier, unemployment was recorded at 14.3 percent.
South Korean Economy Expands at a Fastest Pace  
In the first quarter of 2014, South Korea’s GDP accelerated for the fourth straight quarter to an annual 3.9 percent growth rate, driven by exports.
South Korea GDP Growth Beats Expectations in Q1  
South Korean GDP expanded a seasonally adjusted 0.9 percent on quarter in the first three months of 2014, the same rate recorded in the previous quarter and above market expectations.
Reserve Bank of New Zealand Increases Interest Rate to 3.0%  
At its April 23rd, 2014 meeting, the Reserve Bank of New Zealand lifted the benchmark interest rate for the second straight meeting by 25 bps to 3.0 percent, as inflationary pressures were increasing and were expected to continue doing so over the next two years.
US New Home Sales Fall Sharply in March  
Sales of new single-family houses dropped 14.5 percent in March of 2014 to their lowest level in eight months. Sales were recorded at a seasonally adjusted annual rate of 384,000, below the revised February rate of 449,000.
US Markit Manufacturing PMI Steady in April  
At 55.4 in April, the Markit Flash U.S. Manufacturing PMI was down fractionally from 55.5 in March, but still well above the neutral 50.0 value. Sharper rates of output and new business growth boosted the Manufacturing PMI during April, while the main negative influence on the headline index was a rise in the suppliers’ delivery times component.
Bank of Thailand Leaves Interest Rate Unchanged  
At its April 23rd, 2014 meeting, the Monetary Policy Committee left the benchmark interest rate on hold at 2.0 percent. Policymakers expect 2014 growth to be lower than previous assessed due to prolonged political unrest.
South Africa Inflation Rate Back to 6%  
South African annual consumer prices accelerated for the fourth straight month in March of 2014 to a six-month high 6 percent. On a monthly basis, prices advanced 1.3 percent, the fastest pace in five years.
Singapore Inflation Rate Edges Up in March  
Annual consumer prices rose 1.2 percent in March of 2014, up from a 0.4 percent increase in February, mainly due to a smaller fall in car prices. Contributions from all other major categories, except accommodation, were also slightly higher.

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