(ANSA) - BELGRADE - The gross domestic product was 4.4% higher in Hungary in the 1st quarter of 2018 compared to the corresponding period of 2017, the Hungarian Central Statistical Office (KSH) said in second estimate released today. According to KSH estimates, value added of industry grew by 2.0% compared to the the first quarter of 2017. KSH said also that household final consumption expenditure rose significantly by 5.9%.

ING analysts, in a statement on Hungary released today, noted that the strong increase in private consumption is mainly due to "the significant pickup in the labour market and the constantly increasing wage bill, combined with a high level of propensity to consume." "We expect economic activity to slow down to 4.0% YoY growth in 2Q18 but don't expect significant changes in the structure as domestic demand will continue to be the main driver," ING added.

(ANSA).