KSH: In the third quarter of 2023, the performance of the economy increased by 0.9 percent compared to the previous quarter

By: Trademagazin Date: 2023. 12. 01. 13:33

The volume of the gross domestic product in Hungary in the third quarter of 2023, based on seasonally and calendar-adjusted and balanced data, increased by 0.9 percent compared to the previous quarter – the Central Statistics Office (KSH) confirmed on Friday with its second estimate.

Compared to the same period of the previous year, the performance of the economy decreased by 0.3 percent according to the seasonally and calendar-adjusted and balanced data, and by 0.4 percent according to the raw data.
In the first three quarters of 2023, the performance of the economy decreased by 1.2 percent compared to the same period of the previous year, according to both raw and seasonally and calendar-adjusted and balanced data.

The performance of industry was 5.4, within which the processing industry fell by 4.1 percent compared to the same period of the previous year. Among the manufacturing sectors, the food industry, as well as the rubber, plastic and construction materials industry contributed to the decline to the greatest extent, while the production of road vehicles slowed down the industry’s decline the most. The energy industry also contributed significantly to the decline in industry performance. The added value of the construction industry was 1.6 percent lower than in the same period of the previous year, while that of agriculture exceeded the low base of the same period of the previous year by 88.2 percent.