Hungary GDP falls 3.6 pc in Q4, 5 pc in full year

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(Daily News Hungary)

Hungary’s economy shrank by an annual 3.6 percent in the fourth quarter of 2020, slowing from a 4.6 percent decline in Q3, the Central Statistical Office (KSH) said in a second reading of data on Tuesday. The drop was revised up from 3.7 percent in a first reading of the data released on February 16.

Adjusted for seasonal and working-day effects, GDP fell by 4.1 percent. For the full year, GDP dropped by 5 percent. In a quarter-on-quarter comparison, adjusted for seasonal and workday effects, GDP rose by 1.4 percent, revised up from 1.1 percent in the first reading.

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