We trimmed our 2024 GDP growth forecast by 0.1ppt to 1.5% as the rebound in Q3 activity has been underwhelming. The near-term outlook for Hungary's exports remains subdued. As a pickup in domestic demand is unlikely to fully offset it, we cut our 2025 GDP forecast for Hungary again by 0.2ppts to 3.3%.
Hungary: Struggling auto sector weighs on the near-term outlook