The Hungarian economy advanced 5.3 percent year-on-year in the first quarter of 2019, following a 5.1 percent expansion in the previous period and beating market expectations of 5.1 percent, a preliminary estimate showed. It was the strongest growth rate since the second quarter of 2004, mainly boosted by market services, construction and industry output. On a seasonally adjusted quarterly basis, the economy grew 1.5 percent, up from an upwardly revised 1.0 percent expansion in the prior period. GDP Annual Growth Rate in Hungary averaged 2.51 percent from 1996 until 2019, 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 4.00 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 2.30 in 12 months time. In the long-term, the Hungary GDP Annual Growth Rate is projected to trend around 3.00 percent in 2020, according to our econometric models.