Hungary’s economy grew by 0.6% in 2024, marking the end of the technical recession by the end of the year.
In Q4, economic output was 0.4% higher year-on-year in unadjusted terms and 0.2% higher when adjusted for seasonality and calendar effects. According to the Central Statistical Office (KSH), the economy grew by 0.5% compared to Q3.
For the full year 2024, GDP growth was 0.5% in unadjusted terms and 0.6% when adjusted. KSH attributed the slight year-end increase to the services sector, while agriculture, industry, and construction acted as a drag on growth.