The gross domestic product grew by 2.5% on the year in the first quarter, and posted a 0.4% in quarter-to-quarter increase in seasonally-adjusted terms, Euler Hermes noted in its report.
The economic growth was supported by both an increase in domestic demand and improving external trade activity. Private and public consumption rose by 1.4% each, while fixed investments were up 5% on the year.
Euler Hermes noted that economic growth picked up in Hungary as well, again fueled by domestic demand. The company’s analysts expect the recovery to continue in the next few quarters.
For additional figures and indicators about other economies, see the full report:
