According to the first estimate, both the unadjusted and the seasonally and calendar-adjusted GDP was up 0.6% year-on-year. Compared with the previous quarter, GDP slipped back into stagnation after modest growth in Q2. On average, the unadjusted GDP climbed 0.3% in the first three quarters of 2025.
On the production side, services remained the main drivers of economic expansion, according to the CSO, while industrial and agricultural production continued to weigh on GDP growth. On the expenditure side, private consumption may have strengthened, amid the continuing negative growth contribution of investments and net export.
For 2025 as a whole, Kopint-Tárki expects the GDP to expand at a very modest rate of – or slightly below – 0.5%, since a significant upturn in either industry or exports remains unlikely even in the last quarter of 2025.
