GKI: Hungarian GDP growth peaked in the first quarter

In the first quarter of 2019 the Hungarian economy grew by 5.3 per cent, at a record speed. This rate is by far the fastest in the EU, together with Malta and Romania, the others not even reach 4 per cent. The EU average was 1.5 per cent and the euro area 1.2 per cent, the same as in the previous quarter. As a result of favourable Hungarian data, GKI, like other forecasters, raised its GDP forecast for 2019, from 3.5 per cent to 4 per cent. It is generally believed that a slowdown can be expected during the rest of the year. Projections typically envisage an average GDP growth rate of above 4 per cent in 2019. More…