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Better international environment hardly felt in Hungary last year

The favorable change in the international environment could only hardly be perceived in the performance of the Hungarian economy last year, with GDP falling in Q3 2009 by over 7%, similarly to previous quarters, the Central Statistics Office (KSH) said in its latest monthly summary published on Thursday.

According to the fixed-base data of the export-oriented industrial production, reacting sensitively to processes on external markets, the output went down below the level measured four years earlier after the drop recorded in Q4 2008.

Though in the course of the first half of 2009 the production stagnated essentially at this low level, some improvement could already be observed in the second half of the year. There were similar trends in sales and in external merchandise trade.

At the same time several important indicators show an invariably negative, and from time to time show an even less favorable picture than before. Examples include employment and unemployment, real earnings as well as retail trade turnover and catering. (MTI-ECONEWS)