Hungary Q3 GDP Growth Slows Slightly

Hungary’s gross domestic product expanded by 1.5% year-on-year in the third quarter of 2026, slowing from a 1.7% increase in the previous three-month period, according to preliminary estimates. Economic growth was driven primarily by the industrial sector, which made the largest contribution to GDP, while services continued to support overall activity. In contrast, growth in the agricultural sector slowed significantly. On a seasonally and calendar-adjusted quarterly basis, the economy grew by just 0.1% in Q3 2026, easing from a 0.6% expansion in the preceding quarter.

Hungary’s economy expanded by 1.7% year-on-year in the second quarter of 2026, in line with preliminary estimates and the same pace as in the previous quarter. The latest reading also remained the strongest economic growth since the second quarter of 2024, mainly driven by strong performances in the industry (3.7% vs 0.8% in Q1) and services sector (1.9% vs 2.3%), with professional, scientific, technical and administrative activities contributing the most. In contrast, output declined for construction (-0.3% vs -4.3%), as well as for agriculture (-12.4% vs 1.9%) due to severe drought. On the expenditure side, household consumption, the largest component of actual consumption, continued to increase (4.5% vs 5.5%), while gross fixed capital formation (-6.3% vs -0.1%) declined faster. On a seasonally adjusted quarterly basis, the economy grew by 0.5% in Q2, exceeding initial estimates for a 0.4% expansion but slowing from a 0.8% growth in the preceding period.

Hungary’s gross domestic product expanded by 1.7% year-on-year in the second quarter of 2026, the same pace as in the previous three-month period, according to preliminary estimates. The latest reading fell short of market expectations for a 1.9% expansion but remained the strongest growth since the second quarter of 2024, driven largely by robust performance in the services sector, particularly in professional, scientific, technical, and administrative activities. The industrial sector also continued to contribute positively to the overall economic growth. On a seasonally adjusted quarterly basis, the economy grew by just 0.4% in Q2 2026, slowing from a 0.8% expansion in the preceding period.