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6 months ago
Hungary's Q4 GDP slows to 1.6 pct y/y, below forecast
February 14, 2017 / 8:21 AM / 6 months ago

Hungary's Q4 GDP slows to 1.6 pct y/y, below forecast

    BUDAPEST, Feb 14 (Reuters) - Hungary's economic growth
 slowed to an annual 1.6 percent in the fourth
quarter of 2016 from 2.2 percent year-on-year in the third
quarter, preliminary unadjusted data showed on Tuesday.
    Analysts had forecast 2.15 percent annual rise in GDP for
the fourth quarter.
    In the whole of 2016, economic growth was 2 percent based on
unadjusted data, and 1.8 percent based on calendar-adjusted
terms.
    In seasonally and calendar-adjusted terms, the gross
domestic product grew 1.6 percent year-on-year in the fourth
quarter and rose by 0.4 percent from the previous quarter.
    
    KSH STATEMENT
    "The main contributors to growth were market services and
agriculture."
    
    KSH STATISTICIAN ZSUZSANNA BOROS
    "The performance of industry stagnated, while growth in
construction sector moderated, and now agriculture could not
compensate these trends."
    
 GDP CHANGE                  Q4 2016        Q3 2016     Q4 2015
                                                     
 Unadjusted y/y                  1.6            2.2         3.4
 Calendar-adjusted y/y           1.6            2.0         3.2
 Seasonally and                  0.4            0.3         0.9
 calendar-adjusted q/q                               
                                                     
 
 (Reporting by Krisztina Than)
  

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