Hungary: Off the Chart GDP Growth Gives False Hope

2020. november 13.

ING Think

Hungarian GDP skyrocketed by 11.3% on a quarterly basis in the third quarter of 2020, according to the preliminary data release of the Hungarian Central Statistical Office. It is the strongest quarter-on-quarter growth ever, but given that this follows a historic collapse, such an accolade means far less. Even with this strong rebound, the volume of GDP is down by 4.6% compared to the same period of the previous year.