Hungary's economy grew at an annualised 2.4% in the third quarter, in line with analysts estimates, after the KSH revised the prelimnary data from 2.3%. Compared to the previous three months period, GDP grew 0.6%. In the first nine month output was up 2.8%.
Broken down by sectors, the service sector and industry were the main driver of growth in the period between June and September with a 3.7% and a 5.2% annualised increase. The below-average increase in the service sector is pointing to a shift in the structure of growth, relying on domestic demand, which is more healthy in the long-term, analysts asked by Magyar Hírlap said. Public and private consumption expanded 4.4% and 2.6% in the correpsonding period. Sectors lagging behind and draggind down growth were agriculture (-18.4%) and gross capital investments (-2.9%). Analysts forecast growth between 2.7-3% in 2015.
