Economic performance grows by 8.2% in 1st quarter
The gross domestic product of Hungary increased by 8.2% according to raw data and by 8.0% according to seasonally and calendar adjusted and reconciled data in the 1st quarter of 2022 compared to the corresponding period of the previous year. Almost all industries contributed to the growth. Compared to the previous quarter, the economic performance rose by 2.1% according to seasonally and calendar adjusted and reconciled data.
Compared to the previous quarter, the performance of the economy was up by 2.1% in the 1st quarter. Almost all industries contributed to the increase, but mostly industry and market services. There were significant growths especially in the manufacture of food products and beverages, refined petroleum products and electrical equipment within industry and mostly in wholesale and retail trade, accommodation and food service activities as well as transportation and storage among market services.
The economic performance grew by 8.2% according to raw data and by 8.0% according to seasonally and calendar adjusted and reconciled data compared to the same quarter of the previous year.
Volume indices of GDP
(corresponding period of previous year=100.0)
(%)
| Year | Unadjusted, raw data | Calendar-adjusted data | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| I | II | III | IV | I–II | I–III | I–IV | I | II | III | IV | I–II | I–III | I–IV | |
| 2019 | 105.0 | 104.4 | 104.7 | 104.1 | 104.7 | 104.7 | 104.6 | 105.0 | 104.6 | 104.5 | 104.1 | 104.8 | 104.7 | 104.6 |
| 2020 | 102.2 | 87.2 | 95.9 | 97.3 | 94.4 | 94.9 | 95.5 | 101.8 | 87.2 | 95.9 | 96.9 | 94.2 | 94.8 | 95.3 |
| 2021 | 98.1 | 117.8 | 106.2 | 107.1 | 107.6 | 107.1 | 107.1 | 98.5 | 117.5 | 106.2 | 106.9 | 107.7 | 107.2 | 107.1 |
| 2022 | 108.2 | 108.0 | ||||||||||||
Seasonally and calendar adjusted and reconciled volume indices of GDP
(%)
| Year | I | II | III | IV | I–II | I–III | I–IV |
|---|---|---|---|---|---|---|---|
| corresponding period of previous year=100.0 | |||||||
| 2019 | 105.1 | 104.6 | 104.5 | 104.0 | 104.9 | 104.7 | 104.6 |
| 2020 | 101.8 | 87.0 | 95.8 | 96.8 | 94.3 | 94.8 | 95.3 |
| 2021 | 98.6 | 117.6 | 106.5 | 107.1 | 107.4 | 107.1 | 107.1 |
| 2022 | 108.0 | ||||||
The ’annualised index’, built on dynamics projected for the future and published for a long time in US dissemination practice, indicates an 8.6% growth for the 1st quarter. The annualised index shows the extent of annual change supposing that the volume change in the current quarter – compared to the previous quarter – continued for four quarters.
Seasonally and calendar adjusted quarterly and annualised* volume indices of GDP
(%)
| Year | I | II | III | IV | I | II | III | IV |
|---|---|---|---|---|---|---|---|---|
| previous quarter=100.0 | annualised index | |||||||
| 2019 | 101.7 | 100.5 | 101.2 | 100.6 | 106.8 | 101.9 | 105.1 | 102.3 |
| 2020 | 99.5 | 85.8 | 111.6 | 101.6 | 97.9 | 54.3 | 154.9 | 106.6 |
| 2021 | 101.3 | 102.4 | 101.1 | 102.2 | 105.2 | 110.1 | 104.3 | 109.0 |
| 2022 | 102.1 | 108.6 | ||||||
* It is assumed in the calculations that the change compared to the previous quarter remains constant for four quarters. The annualised index decreases sooner as an impact of an unexpected decline and better follows the trend of recovery than the seasonally and calendar adjusted and reconciled volume index compared to the corresponding period of the previous year.