Hungary's Economy Expands Faster Than Expected on Industry Surge
- Fourth-quarter expansion pushes full-year growth to 2.9%
- Minister sees growth pace sustained in first quarter of 2016
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Hungary’s economy expanded at a faster-than-expected pace in the last quarter of 2015 as robust industrial output outweighed a decline in agriculture and stagnating construction.
Gross domestic product rose 3.2 percent from October to December compared with a year earlier, the Budapest-based statistics office said in preliminary data on Friday. The median of 12 estimates in a Bloomberg survey was for a 2.5 percent gain. The economy grew 1 percent from the previous quarter, compared with expectations of a 0.7 percent expansion, and full-year growth was 2.9 percent.