Markets Actual Q3 Q4 Q1 Q2 2023
Currency 423.60 431 443 455 468 495
Stock Market (points) 38884.01 36717 34873 33122 31459 28380
Government Bond 10Y (%) 9.72 9.65 9.94 10.23 10.53 11.16

Overview Actual Q3 Q4 Q1 Q2 2023
GDP Growth Rate (%) 1.00 -1.3 0.2 0.7 0.8 0.5
GDP Annual Growth Rate (%) 6.50 3 2 1 2 3.5
Unemployment Rate (%) 3.40 3.5 3.8 3.7 3.7 3.8
Inflation Rate (%) 15.60 16.5 18 10.5 9.5 4.5
Inflation Rate MoM (%) 1.80 0.5 0.2 0.2 0.2 0.1
Interest Rate (%) 11.75 12.75 13 13 13 13
Balance of Trade (EUR Million) -1150.00 2900 -100 -100 -100 -800
Current Account (EUR Million) -2629.93 -1000 -400 -100 -100 200
Current Account to GDP (% of GDP) -2.90 0.2 0.25 0.25 0.25 0.25
Government Debt to GDP (% of GDP) 76.80 77.5 77.5 77.5 77.5 76.8
Government Budget (% of GDP) -6.80 -6.3 -6.3 -5 -5 -5
Business Confidence (points) -2.10 2.2 2.5 3.5 3.5 8
Consumer Confidence (points) -49.20 -16 -12 -10 -10 -8
Retail Sales MoM (%) 0.50 0.3 0.4 0.5 0.5 0.6
Corporate Tax Rate (%) 9.00 9 9 9 9 9
Personal Income Tax Rate (%) 15.00 15 15 15 15 15

GDP Actual Q3 Q4 Q1 Q2 2023
GDP Growth Rate (%) 1.00 -1.3 0.2 0.7 0.8 0.5
GDP Annual Growth Rate (%) 6.50 3 2 1 2 3.5
GDP (USD Billion) 182.28 194 194 194 194 205
GDP Constant Prices (HUF Million) 11124158.00 11127979 11713448 10127957 11346641 12123419
Gross Fixed Capital Formation (HUF Million) 2864657.00 2823526 2800892 2895968 2921950 2898924
GDP per Capita (USD) 15486.63 18400 18400 18400 18400 18400
GDP per Capita PPP (USD) 33517.97 34200 34200 34200 34200 34200
Full Year GDP Growth (%) 7.10 4.1 4.1 3.5 3.5 3.5
GDP from Agriculture (HUF Million) 208613.00 320478 313890 317126 212785 324876
GDP from Construction (HUF Million) 459290.00 459384 489510 486042 468476 506643
GDP from Manufacturing (HUF Million) 2047185.00 2019665 2004146 2036581 2088129 2074291
GDP from Public Administration (HUF Million) 1310439.00 1312219 1309044 1304089 1336648 1354860
GDP from Services (HUF Million) 6351296.00 6081270 6153482 6246596 6478322 6368853
GDP from Transport (HUF Million) 659095.00 591578 625812 637967 672277 647715

Labour Actual Q3 Q4 Q1 Q2 2023
Unemployment Rate (%) 3.40 3.5 3.8 3.7 3.7 3.8
Youth Unemployment Rate (%) 10.80 10.9 11.2 11.1 11.1 11.1
Labour Costs (points) 151.26 143 154 182 164 167
Wages (HUF/Month) 485215.00 450850 516944 536301 528723 559333
Minimum Wages (EUR/Month) 503.73 480 480 480 480 510
Wage Growth (%) 15.30 8.4 8.2 8.2 8.2 8.2
Population (Million) 9.73 9.7 9.7 9.7 9.7 9.7
Retirement Age Women 65.00 64.5 64.5 64.5 64.5 64.5
Retirement Age Men 65.00 64.5 64.5 64.5 64.5 64.5

Prices Actual Q3 Q4 Q1 Q2 2023
Inflation Rate (%) 15.60 16.5 18 10.5 9.5 4.5
Inflation Rate MoM (%) 1.80 0.5 0.2 0.2 0.2 0.1
Consumer Price Index CPI (points) 1659.90 1676 1733 1679 1744 1811
Harmonised Consumer Prices (points) 142.19 140 145 140 147 151
Core Consumer Prices (points) 515.60 519 542 528 550 574
Core Inflation Rate (%) 19.00 18.8 21 14 12 6
Producer Prices (points) 178.00 103 103 103 103 103
Producer Prices Change (%) 37.90 33 29 21 18 9.8
Food Inflation (%) 33.10 25 20 17 14 8
CPI Transportation (points) 112.60 113 113 114 114 114

Money Actual Q3 Q4 Q1 Q2 2023
Interest Rate (%) 11.75 12.75 13 13 13 13
Interbank Rate (%) 12.95 13.95 14.2 14.2 14.2 14.2
Deposit Interest Rate (%) 11.25 12.25 12.5 12.5 12.5 12.5
Private Debt to GDP (%) 141.82 135 135 135 135 132

Trade Actual Q3 Q4 Q1 Q2 2023
Balance of Trade (EUR Million) -1150.00 2900 -100 -100 -100 -800
Current Account (EUR Million) -2629.93 -1000 -400 -100 -100 200
Current Account to GDP (% of GDP) -2.90 0.2 0.25 0.25 0.25 0.25
Imports (EUR Million) 11962.38 9600 9900 9900 9900 11700
Exports (EUR Million) 10812.58 12500 9800 9800 9800 10900

Government Actual Q3 Q4 Q1 Q2 2023
Government Debt to GDP (% of GDP) 76.80 77.5 77.5 77.5 77.5 76.8
Government Budget (% of GDP) -6.80 -6.3 -6.3 -5 -5 -5
Government Budget Value (HUF Billion) -237.00 -1100 -1190 -1190 -1190 -870
Government Spending (HUF Million) 1080741.00 1097212 1269921 1125105 1102356 1314369
Government Spending to GDP (% of GDP) 47.90 48 46.5 46.5 46.5 46.5
Government Revenues (HUF Billion) 2766.98 1850 3410 3410 3410 3880
Fiscal Expenditure (HUF Billion) 3093.15 2950 4600 4600 4600 4750

Taxes Actual Q3 Q4 Q1 Q2 2023
Corporate Tax Rate (%) 9.00 9 9 9 9 9
Personal Income Tax Rate (%) 15.00 15 15 15 15 15
Sales Tax Rate (%) 27.00 27 27 27 27 27
Social Security Rate (%) 35.50 42 42 42 42 42
Social Security Rate For Companies (%) 17.00 23.5 23.5 23.5 23.5 23.5
Social Security Rate For Employees (%) 18.50 18.5 18.5 18.5 18.5 18.5

Business Actual Q3 Q4 Q1 Q2 2023
Business Confidence (points) -2.10 2.2 2.5 3.5 3.5 8
Industrial Production (%) 4.00 4.1 3.2 3.2 3.2 2.5
Manufacturing PMI (points) 57.80 50 52.8 52.8 52.8 52.8

Consumer Actual Q3 Q4 Q1 Q2 2023
Consumer Confidence (points) -49.20 -16 -12 -10 -10 -8
Retail Sales MoM (%) 0.50 0.3 0.4 0.5 0.5 0.6
Retail Sales YoY (%) 4.30 3.7 1.9 1.9 1.9 1.9
Consumer Spending (HUF Million) 6718365.00 6369012 6821238 6535127 6852732 7059981
Bank Lending Rate (%) 14.25 15.25 15.5 15.5 15.5 15.5
Gasoline Prices (USD/Liter) 1.67 1.73 1.8 1.87 1.94 1.94
Consumer Credit (HUF Billion) 1205.38 1162 1176 1147 1214 1217

Housing Actual Q3 Q4 Q1 Q2 2023
Construction Output (%) 3.00 8.2 3.3 4.5 6.2 4.1


Trading Economics provides data for 20 million economic indicators from 196 countries including actual values, consensus figures, forecasts, historical time series and news. Hungary Forecast - was last updated on Tuesday, September 27, 2022.