KSH: GDP decreased by 2.7 percent in the fourth quarter of 2012

Last December, industrial production was 7.6 percent lower tha a year before. In the whole year, decline was 1.7 percent – the Central Statistics Office (KSH) published on Thursday.

According to the estimates of the Central Statistics Office (KSH), Hungary's gross domestic product (GDP) in the fourth quarter of 2012 decreased by 2.7 percent compared to the same period of last year. Economic performance in 2012 was 1.7 percent lower than in the previous year.

Industrial production also fell by 0.1 percent in the third quarter, while in the fourth quarter the industry had an even weaker performance. Foreign trade turnover also fell slightly in the last month of last year, and retail trade also shrank in the final quarter of the previous year. (MTI)