According to the second estimation, GDP grew by 3.5% in Q1 at a year-on-year basis, a rate minimally higher than the preliminary estimate (3.4%). The quarter-on-quarter growth rate has been also revised upward, from 0.6% to 0.8%.
In the first quarter of 2015, investments contracted by 4.5%, after a period of seven quarters marked by uninterrupted growth. The decline was in large part driven by falling public investments (by 10%), while business investments decreased only at a symbolic rate of 0.7%.
According to the preliminary data, GDP grew by a year-on-year 3.4% in the first quarter of 2015 (the seasonally adjusted growth rate is 3.1%). This is a good pace in itself, and besides, it is the second highest year-on-year Q1 growth rate within the EU (according to the still incomplete Eurostat data). Yet, this rate slightly falls short of expectations, since the monthly data on industrial production suggested a more buoyant expansion. In a similar vein, the seasonally adjusted quarter-on-quarter growth of 0.6% was slower than expected, considering the quarter-on-quarter leap in gross industrial and construction output.
According to the preliminary data, industrial production grew at an unadjusted rate of 11.6% in March – the calendar adjusted growth rate hit 9%. Both numbers are higher than in any month since July 2014.
Kopint-Tárki prepared the case study on Hungarian youth entrepreneurship in the Eurofound study “Youth entrepreneurship in Europe: Values, attitudes, policies”.
The question of “How far do structural changes either occuring spontaneously or as a result of the changing state regulation …
The second estimation confirmed the year-on-year GDP growth rate of 3.4% in Q4. The yearly average growth rate, on the other hand, has been revised from 3.5% to 3.6%, due to the upward revision of the growth numbers regarding the previous quarters.
In 2014 the 10-year-long decrease in housing numbers came to a halt. The data indicate that housing numbers reached their lowest in 2013, when there were only 7,293 newly built and first use flats. The 2014 data were better with an annual number of more than 1,000. (8,358 new flats.)
In the fourth quarter of 2014, investments grew by only 1.9%, a sharp slowdown compared to the average growth rate …
Béla Szörfi, formerly of Kopint-Tárki, currently at the European Central Bank gave a presentation on “Comparisons and contrasts of the impact of the crisis on euro area labour markets.”