Hungary GDP Declines in Q1

Analysis

Photo by Feng Yu / Shutterstock.com

Hungary’s gross domestic product decreased by 0.9% according to raw data and by 1.1% according to seasonally and calendar-adjusted and reconciled data in the first quarter of 2023 compared to the corresponding period of 2022, the Central Statistical Office (KSH) reports.

 

The largest contributor to the decrease in economic performance was industry, KSH notes.

On the other hand, the good performance of agriculture and of services moderated the decline. The main contributor to the growth in services was health activities, approximating the level before the coronavirus pandemic.

Compared to the previous quarter, the performance of the economy diminished by 0.2% in the Q1 2023.

MET Group Records 2nd Most Profitable Year in 2023 Energy Trade

MET Group Records 2nd Most Profitable Year in 2023

Gov't Considering Fuel Price Intervention Government

Gov't Considering Fuel Price Intervention

Wienerberger Lays Cornerstone of HUF 12 bln Concrete Tile Pl... Manufacturing

Wienerberger Lays Cornerstone of HUF 12 bln Concrete Tile Pl...

Time Out Market to Open in Budapest Next Year Food

Time Out Market to Open in Budapest Next Year

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.