Economy

Hungary's competitiveness has risen to take place 17 among European Union countries, over the average of Visegrad Group members, Akos Szalai of the National Bank of Hungary (NBH) told a press conference on Tuesday, presenting the NBH's Competitiveness Report 2022.

Output of Hungary's industrial sector rose by an annual unadjusted 11.3 percent in September, the Central Statistical Office (KSH) said in a second reading of data on Monday.

Output of Hungary's construction sector rose by an annual 1.6 percent in September, after edging down 0.4 percent in the previous month, the Central Statistical Office (KSH) said on Monday.

The European Commission has raised its projection for Hungary's GDP growth this year to 5.5 percent from its summer forecast of 5.2 percent, the finance minister said on Friday.

Hungarian agricultural producer prices in September grew by an annual 61 percent, up from 52.9 percent in the previous month, the Central Statistical Office (KSH) said on Friday.

Hungary posted a trade deficit in September of 652 million euros, according to a first reading of Central Statistical Office (KSH) data published on Wednesday.

Hungary's consumer price index in October was up an annual 21.1 percent and 2 percent higher month on month, the Central Statistical Office (KSH) said on Wednesday.

After a surplus in September, the budget posted a surplus of over 100 billion forints (EUR 248m) in October, the third largest October surplus in the past 20 years, Mihaly Varga, the finance minister, said on Wednesday.

Hungary now ranks seventh out of 38 countries in this year's OECD Tax Competitiveness Index, up 6 places compared with the previous year, global financial consultant EY said on Tuesday.

Hungarian industrial output grew by an annual 11.3 percent in September, the Central Statistical Office (KSH) said on Tuesday.