In light of preliminary data, the pace of Hungarian economic growth gained momentum in Q1 2014. In January-March 2014, GDP was up by 3.5 percent in comparison to the corresponding period of the previous year, an unprecedented increase since 2006. Data for Q3 and Q4 2013 were already above prior expectations, but this year’s first quarter figure significantly exceeded the 2.7 percent growth forecast of analysts. In light of first quarter GDP data, it can be reasonably expected that for the entire year of 2014 GDP growth will be above the 2.3 percent estimate prognosticated by the Government.

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(Ministry for National Economy)