Hungary out of recession in Q1

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Hungary's GDP rose 0.7% quarter-on-quarter according to seasonally- and calendar year-adjusted data in the first quarter of 2013, the Central Statistics Office (KSH) said in a first reading on Wednesday. The quarter-on-quarter rise came after four quarters of declines, and indicated the end of a recession that started in Q1 2012. First-quarter GDP was still down 0.9% year-on-year according to unadjusted and dropped 0.3% according to calendar-adjusted figures.

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