In the second half of 2013, some encouraging signs have emerged within the Hungarian economy that have been confirmed by recently published preliminary and detailed GDP data for the first quarter of 2014. Hungary’s GDP increased by 3.5 percent in Q1 2014 compared to the corresponding period of the previous year. In international comparison, Hungary’s 1.1 percent quarter-on-quarter growth was – along with Poland’s – the highest within the European Union. The main forward-looking indicators are also signalling that the expectations of domestic market participants are positive: the economic sentiment index of the Hungarian Development Bank (MFB) has reached a new record with several sub-indices jumping to all-time highs, while the Purchasing Manager Index of the Hungarian Association of Logistics, Purchasing and Inventory Management (HALPIM) continues to indicate the firm future expansion of the sector.

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(Ministry for National Economy)