Hungarian economic growth likely to have accelerated year-on-year in Q3 2017

The momentum of Hungarian economic growth is expected to have been sustained in the third quarter of this year. According to an Erste Group Research report, the Hungarian economy is likely to have accelerated to an annual growth rate of 3.7 percent, while the seasonally-adjusted quarterly growth rate is likely to have decelerated to 0.6 percent.

On the demand side, household consumption and gross fixed capital formation are likely to have added to the economic growth. On the other hand, next exports are expected to have weighed on the economic growth, similarly to the second quarter. Meanwhile, the production side is expected to have been led by services, industrial production and construction, whereas agricultural output is anticipated to have dropped.

“We did not identify visible upside risks to our forecast, but rather some moderate downside risks, due to the volatile nature of investment that stems from the unpredictable nature of EU fund utilization”, added Erste Group Research.

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