The Hungarian economy fell 4.6 percent year-on-year in the third quarter of 2020, following a record 13.6 percent contraction in the previous period and compared with market expectations of a 5.6 percent decline, a preliminary estimate showed. The decrease in the economic performance was moderated mainly by growth in information and communication as well as financial services. On a seasonally adjusted quarterly basis, the economy grew at a record 11.3 percent, recovering sharply from an upwardly revised 14.6 percent contraction in the prior period, as most sectors expanded. source: Hungarian Central Statistical Office
GDP Annual Growth Rate in Hungary averaged 2.37 percent from 1996 until 2020, reaching an all time high of 5.90 percent in the first quarter of 2000 and a record low of -13.60 percent in the second quarter of 2020. This page provides - Hungary GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Hungary GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on November of 2020.
GDP Annual Growth Rate in Hungary is expected to be -8.50 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 10.00 in 12 months time. In the long-term, the Hungary GDP Annual Growth Rate is projected to trend around 7.80 percent in 2021 and 2.60 percent in 2022, according to our econometric models.