Economic performance declined by 4.7 percent year-over-year in the third quarter

According to raw data, Hungary’s gross domestic product (GDP) fell by 4.6 percent and seasonally and calendar-adjusted and balanced by 4.7 percent in the third quarter compared to the same period of the previous year, the Central Statistical Office reported on Friday ( KSH). The first estimate is better than analysts ’expectations, which forecast an annual decline of 5.2 percent for the third quarter after 13.6 percent in the previous quarter.