According to the first estimate, unadjusted GDP was up 1.7%, while the seasonally and calendar-adjusted GDP expanded by 1.6% in the second quarter of 2026. Compared with the previous quarter, GDP grew by 0.4%. The second-quarter growth performance somewhat fell short of the average of analysts’ expectations.
On the production side, services are still the main drivers of economic growth, with industry contributing positively and agriculture contributing negatively to GDP growth. On the expenditure side, private consumption remained the primary growth factor. At the same time, net export probably continued to severely weigh on growth.
For the year as a whole, Kopint-Tárki still expects GDP to expand at a rate of around 2%. On the other hand, the mounting shocks generated by the Iran war may upend the baseline growth scenario.
