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15th February, 2018

GDP rising faster than expected

Hungary’s year-on-year GDP growth in the fourth quarter of last year came to 4.4%, the Central Statistics Office announced as it released preliminary data on Wednesday.

Analysts on average had forecast a 4.1% GDP increase for the fourth quarter.

According to seasonally and workday adjusted figures, the increase was 4.8%.

The raw figure exceeds the 3.9% annual growth recorded for the third quarter.

For the whole year of 2017, GDP was up 4%, or 4.2% according to seasonally and workday adjusted data.

The economy grew by 1.4% from the third quarter of 2017. (ksh.hu; portfolio.hu; napi.hu; index.hu; hvg.hu; magyarhirlap.hu; magyaridok.hu)
15th February, 2018

C/A surplus higher in December

The current account surplus grew to €501 million in December, from €390 million in November, the MNB announced on Wednesday.

There was a slight trade deficit of €3.7 million in the month, after a €403 million surplus in November.

Hungary’s net financing ability – the sum of the current account and the capital account – rose from €667 million in November to €747 million in December. (napi.hu; magyaridok.hu)
15th February, 2018

Retail bonds only for households

The total amount of retail bonds issued stood at Ft 7.145 trillion at the end of January, up from Ft 6.939 trillion a month earlier, the state debt manager AKK announced yesterday.

From January 1, new bonds issued with a maturity of two years or more can be purchased only by households, the AKK said.

Previously, local governments and NGOs were also allowed to purchase them, Portfolio added.

Portfolio has reported earlier that a substantial amount of retail bonds might be held by the banking sector. (portfolio.hu; napi.hu)
15th February, 2018

More cattle, fewer pigs

The number of cattle on Hungarian farms stood near 870,000 on December 1, 2017, up from 852,000 one year earlier, the Central Statistics Office announced.

The number of pigs went down by 37,000 to 2.9 million.

There were 1.1 million sheep at the beginning of December, up by 6,000.

The number of hens declined by 183,000 but remained near 32 million. (ksh.hu; napi.hu; magyarhirlap.hu)
15th February, 2018

Leasing market boom in 2017

The total amount financed by leasing was up 18% last year to a nine-year high of Ft 613 billion, the Leasing Association announced on Wednesday.

A similar figure was last reached just before the financial crisis in 2008.

Further growth of 5-7% is forecast for this year, according to association chairwoman Katalin Nyikos.

The sale of cars and light trucks increased 15.5% last year but the total amount of car leasing expanded 27% to Ft 184 billion. (napi.hu; portfolio.hu)

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