Kopint-Tarki – Kopint Tárki Konjunktúrakutató Intézet

Economic Trends 2026/1

2026.06.01

KOPINT-TÁRKI’s growth forecast for the Central and Eastern European region stands at 1.00% for 2026 and 1.2% for 2027 with favourable outcomes recorded at the end of last year. The region grew by 2.2% in the fourth quarter of 2025, while the new EU member states grew by 2.4%, exceeding the average of the old member states. On January 1, the eurozone expanded with a new member, and the Bulgarian lev was replaced by the euro for good with a long road taking the country to this move. A more detailed discussion of recent trends can be found in the full report, here.

Manufacturing index Q1 2026

2026.05.28

The manufacturing business survey conducted in April 2026, after Hungary’s parliamentary elections, showed a marked improvement in sentiment and a significant uptick in expectations within the sector, although real economic fundamentals do not yet support this optimism. The upturn may stem from the fact that companies that were previously in a difficult situation no longer expect further deterioration. However, the Hungarian manufacturing sector continues to stagnate in the first quarter of 2026. The current order backlog is at a critical level, but the production forecast gives cause for optimism, suggesting that a significant upturn in production may come in the medium term. Sustained growth would require not only a favorable financial environment, but also the assurance of fair market competition and the restoration of business confidence. For companies, long-term predictability and a reduction in the intensity of government intervention would be key to improving productivity.

Read the full report here.

MNB-Reuters forecasting competition awards

2026.05.20

We are happy to announce that KOPINT-TÁRKI has participated in the MNB-Reuters forecasting competition, where Éva Palócz and Zoltán Matheika took second place. Congratulations!

New Eurofound NEC network 2026-2030

2026.04.22

Eurofound NEC contract renewed

2026.02.24

The KOPINT-TÁRKI Institute has been a member of Eurofound’s Network of Correspondents (NEC) for Hungary since 2018. Now the contract has been renewed for the third cycle. Reports, working papers and case studies for Eurofound involve many subjects, most recently the following reports were published with KOPINT-TÁRKI contributions/authorship:
Hárs, Ágnes (2025) Hungary: Developments in working life 2024
Bogó, Rozália. – Eurofound (2025) Digitalisation, skills development and digital innovation in SMEs – Country report: Hungary
Krokovay, Nóra – Eurofound. (2025) Hungary: Non-governmental efforts to prepare for gender pay transparency requirements. In: The practical implementation of the work of equal value principle: Case studies
Eurofound (2025), Minimum wages in 2025: Annual review, Minimum wages in the EU series, Publications Office of the European Union, Luxembourg.

More on the work with Eurofound NEC here.

Economic Trends 2025/3

2025.11.03

The third and last issue of Economic Trends for 2025 has been published. The complete series can be found here:
Economic Trends in Eastern Europe – Kopint-Tarki

New Eurofound publications with KOPINT-TÁRKI contribution

2025.03.26

Eurofound published three studies with contributions from KOPINT-TÁRKI researchers recently: on the labour-market situation of older workers, on European Semester and RRF-related policies, and on the complex problems of home carers. KOPINT-TÁRKI has been a member of the Eurofound correspondents’ network NEC since 2018; you can read more about this work and all publications here.

All posts

	2025 Fact	2026 Forecast	2027 Forecast
GDP	0.5%	2.0%	2.5%
Gross Fixed Capital Formation	-2.8%	4.7%	5.5%
Industrial Production	-3.2%	1.3%	3.0%
Gross Salaries	9.0%	9.2%	7.0%
Unemployment Rate*	4.4%	4.8%	4.5%
Current+Capital Account**	2.1%	1.5%	1.0%
General Government**	-4.7%	-6.0%	-4.8%
Consumer Price Index*	4.4%	3.5%	3.7%
MNB Base Rate***	6.5%	5.5%	4.5%
10-Year Yield***	6.79%	7.3%	6.8%

*annual average **in % of GDP ***at year-end

30.04.2026. GDP growth gained momentum in Q1

According to the first estimate, both unadjusted GDP and seasonally and calendar-adjusted GDP was up 1.7% in the first quarter of 2025. Compared with the previous quarter, GDP grew by 0.8%. The overall growth performance in the first quarter exceeded expectations by a significant margin.
On the production side, services are still the main drivers of economic growth, but this quarter also saw a positive contribution from industry. On the expenditure side, private consumption certainly remained the primary growth factor. At the same time, net export probably weighed on growth even more than before.
For the year as a whole, Kopint-Tárki expects GDP to expand at a modest rate of 2%. However, shocks generated by the Iran war may override the baseline growth scenario.

30.01.2026. GDP grew only at a symbolic pace again in Q4

According to the first estimate, GDP grew by an unadjusted rate of 0.7% and a seasonally and calendar-adjusted rate of 0.5% in the last quarter of 2025. Compared with the previous quarter, GDP was up 0.2% after stagnating in Q3. On average, the unadjusted GDP climbed 0.4% in 2025, while the seasonally and calendar-adjusted GDP was up 0.3% over the previous year.
On the production side, services remained the main drivers of economic growth while construction also supported economic expansion to a degree. Industrial production continued to weigh on GDP growth. Services growth may have noticeably accelerated. On the expenditure side, private consumption may have gained momentum but also net export probably dragged down growth more severely than before.
As for this year, Kopint-Tárki expects GDP to expand at a modest rate of 2%.

02.12.2025. GDP: weakening consumption growth, deteriorating external position, change in inventories turns the tables

The second estimate confirms that both unadjusted and seasonally and calendar-adjusted GDP was up 0.6% in Q3 2025. Compared to the previous quarter, however, the GDP remained flat. The overall growth rate in the first three quarters was 0.3%.
On the expenditure side, most components actually deteriorated, including private and public consumption growth rates. The net external trade position also worsened spectacularly. A dramatic turn in the change in inventories was the only reason the year-on-year rate of GDP – and final domestic use – growth accelerated in the third quarter.
On the production side, the contraction in agriculture and industry moderated in the third quarter, while services growth accelerated minimally – due to government services.
We currently expect the GDP to grow at a rate below 0.5% this year.

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