FX.co ★ Hungary Q1 GDP Growth Confirmed at 1.7%

Hungary’s economy grew by 1.7% year-on-year in the first quarter of 2026, accelerating from the 0.8% expansion recorded in each of the previous two quarters and in line with preliminary estimates. This was the fastest pace of growth since the second quarter of 2024, largely underpinned by a rebound in agriculture (up 1.9% vs down 1.7% previously), industry (0.8% vs -2.1%), and the manufacturing sector (1.3% vs -1.1%).

Additional gains were registered in commerce (2.3% vs 2.1%), accommodation and catering services (2.3% vs 2.0%), information and communication (2.4% vs 0.4%), and education (3.0% vs 2.4%).

From the expenditure side, household consumption—the largest component of actual consumption—continued to strengthen, rising 5.5% after a 2.9% increase in the previous period, while the decline in gross fixed capital formation moderated (-0.1% vs -0.2%). On a seasonally adjusted quarter-on-quarter basis, GDP advanced 0.8% in Q1, following a 0.2% increase in the preceding quarter.