Economic performance 1.5% higher in 2nd quarter 2024 than in same period of previous year1
The volume of Hungary’s gross domestic product was 1.5% higher according to raw data and 1.3% higher according to seasonally and calendar adjusted and reconciled data in the 2nd quarter of 2024 than the value in the corresponding period of the previous year. Compared to the previous quarter, the economic performance was down by 0.2% according to seasonally and calendar adjusted and reconciled data. In quarters I-II, the performance of the economy was 1.3% higher according to raw data and 1.5% higher according to seasonally and calendar adjusted and reconciled data.
The main contributors to the increase in the economic performance were construction and real estate activities, as well as the balance of product taxes and subsidies. The economic growth was lowered by a decrease in the value added of industry, representing a large weight in the economy as a whole.