Economic research institute GKI says Hungary’s GDP growth is projected to gradually slow from 3.5% in the first quarter of this year to 2.5% for the full year. Rapid growth in the first months of 2014 came to a sudden halt in several areas in May, GKI said. Industrial production had fallen by 1% from April to May and retail trade sales dropped 0.1% but construction output continued to grow. GKI said it was favourable that employment had grown by more than 6%, including fostered workers, in the first five months and, excluding fostered workers, by 2.5%. But jobs growth also slowed down, GKI said. Prices were expected to remain unchanged over the year, with real wages projected to grow by around 3%, retail turnover also by 3% and consumption by around 2%.
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