Economic Growth Stagnates in Q4
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Hungary’s gross domestic product was unchanged according to raw data and increased by 0.4% according to seasonally and calendar-adjusted and reconciled data in the last quarter of 2023 compared to the corresponding period of the previous year.
According to the Central Statistical Office 8KSH), Hungary's economic performance rose mostly in the sections of agriculture, human health and social work activities, as well as information and communication. However, the falls in industry, construction, and some market services, mainly wholesale and retail trade, offset the growth.
Compared to Q3 2023, the performance of the economy was unchanged, KSH notes.
Gross domestic product was 0.9% lower in 2023 according to raw data and 0.8% lower according to seasonally and calendar-adjusted and reconciled data than in 2022.
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