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GDP Confirmed to Have Risen 0.9% QoQ in Q3, Debt Financing Plan to be Presented

HUNGARY
  • Final GDP rose 0.9% q/q in 3Q, matching both the preliminary reading and analyst estimates. The year-on-year figure fell 0.4% and also matched the preliminary print.
  • Hungary's final trade surplus was EUR1.340b (Preliminary: +EUR1.263b) in September, according to the Central Statistical Office. Imports rose 8.4% m/m while exports rose 13.9% m/m.
  • Meanwhile, Hungary’s Manufacturing PMI fell to 52.2 in November (Est: 50.7) from a revised 52.3 in October, according to Halpim.
  • Hungary’s economy is showing green shoots for a recovery as it’s entering 2024, Prime Minister Orban said in his weekly radio address as per Bloomberg. Inflation is seen at around 5-6% for next year, Orban said. The Prime Minister also reiterated his opposition to starting EU membership talks with Ukraine or sending funds to support Kyiv’s war efforts.
  • Finance Minister Mihaly Varga and Debt Management Agency CEO Zoltan Kurali will present Hungary’s financing plan for next year at 0900GMT/1000CET.
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