Economic think-tank GKI expects Hungary's economy to grow by a real 1.3% y/y in 2014 after expanding by 1% in 2013, GKI said in a fresh forecast confirming its previous projection. Private consumption is projected to increase by 2% y/y in 2014 helped by an expected hike of 3% y/y in the real earnings. Investment activity is projected to increase by 2% y/y in 2014 slowing down from 4% y/y estimated for 2013. Exports and imports are forecasted to grow by 4% y/y and 5% y/y in 2014, respectively. On the production side, the industry will continue its recovery and will post a growth of 3% y/y. The output in construction sector will increase by 5%. The transport sector will expand by 1% y/y and trade is projected to increase by 2% y/y. Hungary's consumer price growth is seen at 1.5% y/y in 2014, slightly easing from 1.7% y/y in 2013, GKI said lowering its previous projection for a 2.1% y/y growth. According to the think-tank, the average annual unemployment rate in the country will stand at 9.8% in 2014.
Most Popular Stories
- Obama Administration Releases Proposal to Regulate For-Profit Colleges
- Apple, HP, Intel May Take a Hit from Slowdown in Smartphone Sales Growth
- Elizabeth Vargas' Husband Marc Cohn Addresses Rumors
- FDIC Files Lawsuit on Behalf of Banks Allegedly Hurt by Libor Scandal
- Keurig Adds Peet's coffee, Alters Starbucks deal
- Motley Crue's Nikki Sixx Marries Model Courtney Bingham
- U.S. to Relinquish Gov't Control Over Internet
- Chinese e-Commerce Giant Alibaba Gears for IPO in U.S.
- Some California Cities Seeking Water Independence
- Will Missing Malaysian Jet Prompt Aviation System Change?