Hungary’s economic growth held steady in the three months ended March, defying expectations for an easing, preliminary figures from the Hungarian Central Statistical Office showed Wednesday.
Gross domestic product grew an unadjusted 3.4 percent year-over-year in the three-month period to March, the same rate expansion as in the previous quarter. Economists had expected the growth to ease to 3.3 percent.
On a calender adjusted basis, GDP advanced at a faster pace of 3.4 percent annually in the first quarter, following a 3.2 percent increase in the December quarter.
On a seasonally and calender-adjusted basis, GDP rose 3.1 percent in the first quarter, but slower than previous quarter’s 3.3 percent growth.
Quarter-on-quarter, the economic growth eased to 0.6 percent in the March quarter from 0.9 percent the fourth quarter last year.
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