Hungary GDP Down 2.4% in Q2
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Hungary’s gross domestic product decreased by 2.4% according to raw data and by 2.3% according to seasonally and calendar-adjusted and reconciled data in Q2 2023 compared to the corresponding period of the previous year, according to a data published by the Central Statistical Office (KSH).
The largest contributors to the decrease in economic performance were industry and market services, within which mainly transportation and storage as well as wholesale and retail trade.
The good performance of agriculture ameliorated the reduction.
The decrease in the value added of services was partly offset by significant growth in human health and social work activities, the performance of which approximated the level before the COVID-19 pandemic.
In the first half of the year, gross domestic product was 1.7% lower than in the corresponding period of 2022.
Compared to the previous quarter, the performance of the economy diminished by 0.3%.
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