KSH: In the second quarter of 2025, the economic performance exceeded the second quarter of 2024 by 0.2 percent
The volume of Hungary’s gross domestic product in the second quarter of 2025 exceeded the same period of the previous year by 0.1 percent according to raw data, and by 0.2 percent according to seasonally and calendar-adjusted and balanced data. Compared to the previous quarter – according to seasonally and calendar-adjusted and balanced data – the economic performance expanded by 0.4 percent – the Central Statistical Office (KSH) confirmed in its second estimate released on Tuesday.
In the first half of 2025, the GDP stagnated according to raw data, and fell by 0.1 percent compared to the same period in 2024 according to seasonally and calendar adjusted data.
On the production side, the value added of the construction industry exceeded the same period of the previous year by 4.3 percent. The performance of industry fell by 3.3 percent, including that of the manufacturing industry by 4.4 percent, compared to the same period of the previous year.
Among the manufacturing sectors, the production of metal products contributed the most to the decline, and the production of other vehicles slowed down the decline of industry the most. The added value of agriculture decreased by 11.4 percent compared to the first half of the previous year.
The gross added value of services increased by 1.3 percent. The largest increase (6.5 percent) occurred in the arts, leisure and other services sector. The added value of information and communication increased by 6.3 percent, that of accommodation and catering services by 3.2 percent, that of education by 2.9 percent, and that of financial and insurance activities by 2.2 percent.
The performance of trade increased by 1.8 percent, that of professional, scientific, technical and administrative activities by 0.8 percent. The added value of transport and storage increased by 0.2 percent. The performance of human health and social care decreased by 0.1 percent, public administration by 0.5 percent, and real estate transactions by 0.7 percent, according to the Central Statistical Office.
According to the report, the services sector, and within it the expansion of the information and communication sector, contributed most positively to the 0.1 percent growth of gross domestic product in the second quarter of 2025 (by 0.9 and 0.2 percentage points, respectively). The performance of the construction industry helped growth by 0.2 percentage points, while that of industry by 0.7 and that of agriculture by 0.3 percentage points reduced the performance of the national economy. The balance of product taxes and subsidies did not significantly affect the volume of GDP.
On the consumption side, the actual consumption of households exceeded the same period of the previous year by 4.5 percent. The consumption expenditure of households, which represents the largest proportion among the components of actual consumption, increased by 5.0 percent.
The (domestic) consumption expenditure of households realized in Hungary increased by 4.9 percent. The volume of domestic consumption expenditure increased in all groups: 6.2 percent for durable goods, 3.9 percent for semi-durable goods, 5.6 percent for non-durable goods, and 4.6 percent for services, the report detailed. The volume of social benefits in kind received from the government increased by 1.9 percent, while community consumption increased by 9.8 percent. The volume of social benefits in kind received from non-profit institutions supporting households increased by 5.7 percent.
As a result of the above processes, final consumption increased by 5.3 percent, the Central Statistical Office (KSH) summarized.
Gross fixed asset accumulation in the second quarter fell by 7.0 percent compared to the same period of the previous year. Both the volume of construction investments and that of machinery and equipment investments decreased.
Gross accumulation decreased by 0.9 percent compared to the same period of the previous year.
Due to consumption and accumulation processes, domestic consumption grew by 3.8 percent overall in the second quarter.
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