Services and Industry Lift Hungary’s Q1 Growth to 8.2%

2022. június 03.

bne IntelliNews

Hungary's economy expanded by 8.2% year-on-year in Q1 and by 2.1% q/q, the Central Statistics Office (KSH) confirmed in a second reading on June 1. Both data exceed analysts’ expectations. Growth was broad-based as almost all sectors contributed to growth, but industry and market services were the main drivers spurred by pre-election handouts and transfers. The outlook for the remaining part of the year is grimmer, due to the impacts of the war, the cutback in public investments and government transfers running out, according to analysts.