Hungary GDP Declines in Q1
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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.
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