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Analysts estimate economic contraction slowed to 1.7% in Q1

Analysts polled by business daily Napi Gazdaság estimate Hungary's first-quarter GDP fell by 1.7% from the same period a year earlier, slowing from a 4% drop in the previous quarter.

The analysts estimated the economy expanded a slight 0.2% in Q1 in a quarter-on-quarter comparison, helped by exports and a restocking of inventories by domestic companies.

Hungary's economy has not grown in a quarter-on-quarter comparison since Q2 2008.

The Central Statistical Office (KSH) will publish Q1 GDP data on Wednesday. (MTI – Econews)