GDP decreased by one and a half percent in the third quarter

Hungary's gross domestic product (GDP) decreased by 1.5 percent in the third quarter of 2012, while with seasonally and calendary effects adjusted a 1.6 percent decrease occurred, compared to the same period of the previous year – the Central Statistical Office announced on Thursday, on the basis of preliminary datas.

Compared to the previous quarter, the decline was 0.2 percent. This means the continuation of the technical recession, because GDP decline was 1.1 percent in the first quarter and 0.4 percent in the second quarter. In the first nine months of the year the performance of the economy was 1.3 percent below the same period of the previous year.

According to analysts polled by MTI, the performance of the Hungarian economy may decline by 1.2 to 1.4 percent this year. Analysts expect a 0.2 to 0.4 percent GDP growth for the next year. (MTI)