According to the second estimate, both unadjusted and seasonally and calendar-adjusted GDP grew by 1.7% in the second quarter of 2026. Against the previous quarter, the GDP was up 0.5%. Within the EU, the Hungarian growth performance was close to the median.
Private consumption decelerated somewhat, as expected. The reacceleration of the decline in fixed capital formation was unexpected, however. At the same time, the contribution of the changes in inventories to growth became even more pronounced. Final domestic use expanded at a respectable pace of 5%.
As for external trade, the export of goods expanded in the second quarter, after almost three years of uninterrupted decline. As a result, the downward effect of net exports on GDP growth became less extreme than in the previous quarter.
On the production side, industrial growth gathered some momentum, which offset the slowdown in services growth and the steep fall in drought-stricken agriculture.
Provided that investments start expanding in the second half of the year, due to the renewed inflow of EU funds and the changed institutional background, the GDP growth rate might reach 2% in 2026.
