Economic performance was 0.2% lower than the previous quarter on a seasonally and calendar-adjusted basis.
The data deliver a blow to the government’s goal of kick-starting the year with strong growth.
While the services sector provided a modest boost, declines in industry and construction offset those gains, keeping economic performance flat.
“After today’s terrible economic data, it’s now clear to everyone that it’s over. Orbán and Márton Nagy must go,” head of the opposition Tisza Party Péter Magyar said in a statement posted on Facebook after the release of data by KSH.
Minister of Foreign Affairs and Trade Péter Szijjártó reacted to the latest GDP data by saying it was “only a matter of months” before the launch of major automotive and battery manufacturing plants would lead to a sharp rise in GDP.
He also announced that the government’s previously declared goal of establishing 100 new factories would be expanded to 150.
A detailed breakdown of the data is expected on May 15.
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