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

By: Trademagazin editor Date: 2020. 11. 13. 11:50

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.

The recovery from the epidemic crisis began in the third quarter, with economic performance up 11.3 percent from the second quarter, according to seasonally and calendar-adjusted and balanced data. The performance of most branches of the national economy has increased, the KSH added. (MTI)