According to raw data, Hungary's gross domestic product (GDP) increased by 8.2 percent in the first quarter compared to the same period of the previous year, according to the first quarter of the year. based on the estimate of the Central Statistical Office (KSH).
Compared to the previous quarter, the performance of the economy increased by 2.1 percent - according to seasonally and calendar-adjusted and balanced data. The KSH improved the basis of the quarterly index, the indicator for the fourth quarter of last year, from 2.0 to 2.2 percent in its latest report.
Almost all branches of the national economy contributed to the growth, but mostly industry and market services. Within industry, the expansion of food and beverage production, petroleum processing, and the manufacture of electrical equipment was particularly significant, and among market services, trade, accommodation services, catering, as well as transportation and warehousing, were particularly significant, stated in its first estimate KSH.
The so-called annualized index indicates an increase of 8.6 percent in the first quarter. The annualized index, which is based on the dynamics projected for the future and has long been published in American information practice, shows how large the annual change would be if the current growth rate compared to the previous quarter were to continue for four quarters.
The CSO will announce the detailed data of the first-quarter GDP on June 1 based on its second estimate.
On Tuesday morning, Finance Minister Mihály Varga gave a positive report on the data on Facebook , highlighting in a comment that "according to the currently available data, this is one of the highest increases in the European Union".
The head of the ministry later spoke in a video about how almost all sectors contributed to economic growth, which, however, is threatened by the war, so the cabinet is working to keep the economy on a safe growth path.
Source: Hirado.hu
