Hungary's fourth-quarter gross domestic product (GDP) fell an unadjusted 2.3% and a calendar-year adjusted 2.5% from the same period a year earlier - the Central Statistical Office (KSH) said in a second reading.
Hungary's GDP fell a seasonally adjusted quarter-on-quarter 1.2% in Q4. Hungary's GDP declined 0.5% in Q3 after a stagnation in Q2. The seasonally adjusted q-on-q drop was just 0.1% in Q3 and showed growth of 0.4% in Q2.
For the whole last year, GDP was up 0.5% from 2007 and rose 0.5% according to calendar-adjusted calculations.
In 2007, Hungary's GDP increased 1.3% according to both calendar-adjusted and unadjusted figures.
Central Statistical Office (KSH) and its research arm Ecostat reported an unadjusted twelve-month 2.0% and a calendar-year adjusted 2.1% decrease of Hungary's GDP in a first estimate on February 13. (MTI – Econews)