Preliminary Q4 GDP in line with expectation, more or less

HUNGARY - In Brief 30 Jan 2025 by Istvan Racz
Real GDP (preliminary, seasonally and day-adjusted) grew by 0.5% qoq, 0.2% yoy in Q4 2024, implying 0.6% growth for the whole of 2024, after -0.8% in 2023. Analysts expected 0.2% growth for Q4, and the 2025 budget includes 0.8% growth for full-year 2024. Note: Real GDP growth in percent; Source: KSH So, basically no one expected too much from the Q4 GDP data, except that the domestic economy would just climb out of its short-lived and shallow technical recession, which has been achieved. Looking back in time, the big picture seems to be that the economy was 'negatively' stagnating for the last two-and-half years, substantiating, to a great extent, the government's claim that the Russian-Ukrainian war, and all that came with it, caused a lot of harm to Hungary.

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