Hungary’s gross domestic product expanded 4.9 percent year-on-year in the third quarter of 2018, the same pace as in the previous period and slightly above a preliminary reading of 4.8 percent. Fixed investment jumped 20 percent (vs 15 percent in Q2) and household consumption grew 5.3 percent (vs 5.4 percent in Q2) while net external demand contributed negatively to GDP growth as imports climbed 5.9 percent (vs 9.1 percent in Q2) and exports advanced at a softer 3.4 percent (vs 8.6 percent in Q2). On a seasonally adjusted quarterly basis, the economy advanced 1.3 percent, up from a 1.1 percent expansion in the second quarter and compared to 1.2 percent previously estimated. GDP Annual Growth Rate in Hungary averaged 2.45 percent from 1996 until 2018, reaching an all time high of 5.60 percent in the first quarter of 2000 and a record low of -7.90 percent in the second quarter of 2009.
GDP Annual Growth Rate in Hungary is expected to be 3.90 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Hungary to stand at 3.60 in 12 months time. In the long-term, the Hungary GDP Annual Growth Rate is projected to trend around 2.40 percent in 2020, according to our econometric models.