Q2 GDP data met expectations, exceptionally

HUNGARY - In Brief 30 Jul 2025 by Istvan Racz
As we reported yesterday, all forecasters expected GDP growth to be slightly positive in Q2, after being similarly negative in Q1. And they have proven to be right. In fact, real GDP growth reached +0.4% qoq, +0.2% yoy, the former after a revised -0.1% qoq in the first quarter. This also means that GDP fell by a marginal 0.1% yoy in the first half of this year, so even to reach the Economy MInistry's substantially scaled-back 1% growth forecast for the whole of 2025, a pretty significant improvement will have to be achieved in H2. But anyway, the Economy Minister improved his forecasting performance this time. In colloquial talk, he keeps being mentioned as Mr. Márton Never-Know-A-Figure Nagy, for repeatedly missing his own, normally ambitious, growth forecasts. Well, this time he indeed knew almost exactly, even if only 24 hours before the release of KSH's actual data. 

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