14/11/2011:

The worsened outlook on the Eurozone has made a limited impact on the Hungarian economy in the third quarter, when the country’s gross domestic product grew by almost 1.0%, the consensus forecast of analysts showed in Portfolio.hu poll on Monday. But the prospects for the last months of the year and 2012 have greatly deteriorated. The consensus shows a mere 0.4% annual average growth in Hungary for 2012.

Hungary’s economic output increased by 2.5% year on year in the first quarter of 2011 and expanded by 1.5% in Q2. The third-quarter GDP is seen up by 0.95%. 

The deceleration in Eurozone growth did not leave a deep scar on the Hungarian economy, according to the estimates, since the main indicators (e.g. manufacturing PMIs) dipped mostly in September and October, which means slowdown is expected mostly in Q4. The Hungarian economy was assisted by several factors in July-September. Meer informatie