GDP down 5.1% in 2020
According to raw data, the gross domestic product of Hungary went down by 5.1% in 2020 compared to the previous year, the Central Statistical Office (KSH) reports.
Compared to the previous quarter, the performance of the economy grew by 1.1% in the 4th quarter of 2020. The main drivers of the increase were industry as well as information and communication, KSH notes.
Compared to the same quarter of 2019, the economic performance went down by 3.7% according to raw data and by 4.3% according to seasonally and calendar adjusted and reconciled data.
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