The volume of the gross domestic product (GDP) increased by 4.0 percent in the third quarter compared to the same period of the previous year. According to seasonally and calendar-adjusted and balanced data, the performance of the economy increased by 4.1 percent compared to the same period of the previous year, while it decreased by 0.4 percent compared to the previous quarter, the Central Statistics Office (KSH) confirmed on Thursday based on its second estimate.
In the first three quarters, the performance of the economy exceeded the same period of the previous year by 6.1 percent, both according to raw and seasonally and calendar-adjusted data.
In an annual comparison, the performance of the manufacturing industry increased by 10.6 percent, that of the construction industry by 1.8 percent, the value added in services exceeded that of the third quarter of last year by 5.6 percent, and the production of agriculture decreased by 39.3 percent.
Services contributed 3.4, industry 1.7, and construction 0.1 percentage points to the 4.0 percent increase in GDP. On the consumption side, final consumption contributed 2.3 percentage points, while gross accumulation slowed it down by 0.8 percentage points.
Overall, the balance of foreign trade increased economic performance by 2.5 percentage points.
Source: Magyar Hírlap
Featured image: Central Statistical Office, Source: Wikipedia
