Hungary’s economy grew at a faster pace than estimated earlier, led by manufacturing and services, latest data from the statistical office showed Friday.
Gross domestic product grew an unadjusted 2.4 percent following 2.7 percent expansion in the second quarter. On November 13, the agency had reported 2.3 percent growth for the third quarter.
The Hungarian economy expanded for a tenth consecutive quarter.
On a seasonally-and-calendar adjusted basis, GDP rose 2.3 percent annually. The pace of quarterly expansion was revised up to 0.6 percent from 0.5 percent reported earlier.
On a year-on-year basis, industrial output grew 5.2 percent, led by a 5.9 percent jump in manufacturing. Construction registered a 0.5 percent slump and farm output tumbled 18 percent.
Meanwhile, the services sector logged 3.7 percent growth.
The material has been provided by InstaForex Company – www.instaforex.com