FX.co ★ Hungary Q2 GDP Growth Confirmed at 1.7%

Hungary’s economy grew by 1.7% year-on-year in the second quarter of 2026, matching both preliminary estimates and the growth rate recorded in the previous quarter. This was also the fastest pace of expansion since the second quarter of 2024.

The upturn was chiefly supported by robust performances in industry, where output rose 3.7% (up from 0.8% in Q1), and in the services sector, which expanded by 1.9% (slightly below 2.3% in Q1). Within services, professional, scientific, technical and administrative activities made the largest positive contribution.

By contrast, output continued to fall in construction, though at a slower pace (-0.3% vs -4.3% in Q1), and dropped sharply in agriculture (-12.4% vs +1.9%), largely due to severe drought conditions.

On the expenditure side, household consumption—the largest component of actual consumption—continued to rise, though at a moderated pace (4.5% vs 5.5% in Q1). Meanwhile, gross fixed capital formation contracted more sharply, declining by 6.3% after a marginal 0.1% drop in the previous quarter.

On a seasonally adjusted quarter-on-quarter basis, GDP increased by 0.5% in Q2, slightly above the initially estimated 0.4% expansion, but down from the 0.8% growth recorded in the first quarter.