Analysts expect an economic downturn of around 6 percent for the full year

By: Trademagazin editor Date: 2020. 12. 02. 11:40

The performance of the national economy fell by 5.5 percent in the first three quarters, but for the year as a whole, analysts interviewed by MTI expect a decline of around 6 percent, meaning a worse outlook for the fourth quarter. Compared to the government’s minus 6.4 percent forecast, however, they seem more optimistic.

According to the detailed data of the Central Statistical Office (KSH), the volume of gross domestic product decreased by 4.6 percent in the third quarter compared to the same period of the previous year. According to seasonally and calendar-adjusted data, the performance of the economy was 11.4 percent higher than in the previous quarter and 4.6 percent lower than in the same period of the previous year. (MTI)