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The figure is better than consensus expectations of 3.70-3.88% growth (Reuters, Napi Gazdasag), and also exceeds the 4.0% flash GDP estimate released recently by Ecostat, KSH's research arm.
The Q2 growth rate of GDP compares to the 2.9% recorded in the first quarter of 2005 and brings H1 GDP growth to 3.5%. According to seasonally adjusted figures, GDP grew 1.2% in Q2 compared to the previous quarter. Adjusted for the leap day in the base period, GDP growth in H1 was 3.9%, the KSH said.
Value added in the production sectors was up 5.2% on the year, while services showed 3.8% growth in Q2. Detailed, final information on Q2 GDP, including the consumption side, will be published on September 8.
