According to the flash report of the Hungarian Central Statistical Office (KSH) published on 18 March, in January 2018 the number of tourism nights by domestic and foreign guests was up by 16 percent and 11 percent, respectively, in comparison to the corresponding period of the previous year. Gross revenues at accommodation establishments -- calculated at current prices -- were 17 percent higher. As a whole, the number of arrivals increased by 14 percent year-on-year.
In light of the report published by the Hungarian Central Statistical Office (KSH) earlier this week, industrial output rebound which began in 2013 will continue this year as in January 2014 industrial sector output – according to both unadjusted and workday-adjusted data – increased by 6.1 percent in comparison to the corresponding period of 2013.
According to the latest report of the Hungarian Central Statistical Office (KSH), in the last quarter of 2013 the volume of investment increased by 14.9 percent year-on-year, which growth figure was last seen in Q1 2004.
According to the European Commission’s Winter Forecast, Hungary’s real GDP growth is estimated to be 2.1 percent both in 2014 and 2015, which is an upward revision of the former prognosis.
According to the latest data by the Hungarian Central Statistical Office (KSH), Hungary’s economic growth has gathered speed. The 1.8 percent GDP growth registered in Q3 2013 already exceeded analysts’ expectations, while GDP gained 2.7 percent in the last quarter of 2013, year-on-year.
The Government’s active industrial policy has been bearing fruits: according to the latest report of the Hungarian Central Statistical Office (KSH), in December 2013 the volume of Hungary’s industrial output increased by 6.8 percent compared to the corresponding period of 2012. Workday-adjusted data show growth of 4.4 percent. For the whole year, industrial output was up by 1.4 percent compared to 2012, driven mainly by the vehicle manufacturing sector.
The seasonally adjusted Purchasing Manager Index (PMI) for January 2014 increased to 57.9 points, according to the press release of the Hungarian Association of Logistics, Purchasing and Inventory Management (HALPIM).
Employment has further improved in Hungary: in the period October-December 2013, in light of year-on-year data, the upward trend concerning the number of those in employment was unbroken.
The OECD has revised upward its growth estimate for Central and Eastern European countries. As far as Hungary is concerned, the organization prognosticates growth of 1.2 percent for 2013, 2.0 percent for 2014 and 1.7 percent for 2015.
The preliminary fiscal deficit estimate for 2013 totals HUF 929.2bn, some HUF 200bn below the deficit figure projected in the budget act. Preliminary cash-flow data on revenues and expenditures also confirm expectations that the deficit target, calculated in line with EU methodology, will be below 3 percent of GDP in 2013, while in percentage of GDP it may even be 2.7 percent, or – under auspicious conditions – as low as 2.3 percent.