Q3 GDP data tomorrow: moderate slowdown is expected

HUNGARY - In Brief 13 Nov 2018 by Istvan Racz
Portfolio.hu's analyst poll expects a moderate slowdown for Q3 GDP, to an unadjusted 4.3% yoy growth rate in real terms, after 4.9% yoy in Q2. We agree with that consensus: preliminary and partial data are indeed hinting at some moderate deceleration for the third quarter. Importantly, the same analyst poll expects 4.4%, again in terms of the unadjusted data, for full-year 2018, from which a further deceleration of growth, to 3.9% yoy, can be derived for Q4. For full-year 2019, the Portfolio.hu poll expects 3.5%. We are still in agreement with that consensus outlook.

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