Hungary’s economy grew 1.5 percent year on year in the third quarter of 2026, according to a first estimate from the Central Statistical Office (KSH). Quarter on quarter, growth was 0.1 percent. Analysts had expected 1.7 percent on the annual measure, so the figure came in below forecasts.
Industry leads, agriculture drags
Industry was the main driver of growth in the quarter, led by vehicle manufacturing and the production of computers and electronics. Drought hit agriculture and reduced growth. Services still contributed positively, but by less than before.
KSH said household consumption may have supported growth. Investment may have slowed growth, reflecting restraint in state spending. Construction may have made a slightly positive contribution.
Revisions could lift the number
KSH said the quarterly figure may be revised upward in December. Cseh Tímea, head of the national accounts department at KSH, said new data arriving since the release would lead to revisions of both the first and second quarters. The second quarter is the one most likely to change, and her office said its growth rate may move downward.
The first estimate is based only on the production side of the economy. A more detailed GDP estimate is due in December.
Related: US GDP grows 3.4% in third quarter, beating forecasts
Source: Central Statistical Office (KSH)
