BUDAPEST, Nov. 14 (Xinhua) -- Hungary's third-quarter Gross Domestic Product (GDP) rose 4.8 percent year-on-year, the Central Statistics Office (KSH) said in a first reading of data here on Wednesday.
"This figure shows a slight slowing, from a 4.9 percent increase in the previous quarter," said the KSH.
Adjusted for seasonal and workday effects, the GDP was up 5.0 percent in the third quarter, accelerating from 4.7 percent in the second quarter, according to KSH.
"Most branches of the national economy contributed to the increase, market-based services to the greatest extent," KSH declared in the release.
For the first three quarters of the year, GDP was up an unadjusted 4.7 percent on an annual basis.
Quarter-on-quarter, Hungarian GDP rose a seasonally- and workday-adjusted 1.2 percent in the third quarter.
"The adjusted third quarter growth rate was two-and-a-half times the European Union average and the second-highest among all member states," Finance Minister Mihaly Varga declared on public television M1, following the publication of the data by KSH.
"The construction and service sectors were the biggest contributors to the increase," Varga explained, adding that rising consumer consumption, boosted by higher wages, and the double-digit increase in investments was also supporting economic growth.
Varga expected the full year growth rate to be between 4.3 percent and 4.5 percent for the current year, slightly beyond the official projection of the government that stood at 4.3 percent.
