ADVERTISEMENT

Hungary yr/yr GDP confirmed, quarterly drop revised slightly lower in Q1

Analysis

Hungary's GDP fell 0.7% yr/yr in Q1 2012 according to unadjusted figures and was down a seasonally and calendar-adjusted 1.2% from the fourth quarter last year, the Central Statistics Office (KSH) said in a second reading on Friday.

The unadjusted yr/yr was the same and the quarter-on-quarter drop was revised down from 1.3% in a first reading released on May 15.

Q1 GDP fell 1.2% from a year earlier according to workday-adjusted figures, slightly less than the preliminary 1.3% decline.

In a quarterly comparison, GDP showed now growth now for the fourth quarter in a row, with a 0.2% drop in Q2 2011, and no change both in Q3 and Q4 last year, the fresh revisions show.

The Q1 yr/yr contraction followed an unadjusted 1.4% and a workday-adjusted 1.5% increase in Q4 last year.

Q1 saw the first yr/yr GDP contraction since Q4 2009, which ended five quarters of decline.

ADVERTISEMENT

3,274 new COVID cases registered over past 3 days Figures

3,274 new COVID cases registered over past 3 days

Parliament approves amendment to Competition Act Parliament

Parliament approves amendment to Competition Act

New CEO announced at Codic Hungary Appointments

New CEO announced at Codic Hungary

FAO–Food Bank convoy delivers food to those in need City

FAO–Food Bank convoy delivers food to those in need

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.