4th Quarter GDP Data Down on Previous Year

Although, economic performance in Hungary grew by 1.1% compared to previous quarter but it decreased by 3.7% compared to a year earlier.

The gross domestic product of Hungary went down by 3.7% according to raw data and by 4.3% according to seasonally and calendar adjusted and reconciled data in the 4th quarter of 2020 compared to the corresponding period of the previous year, the Central Statistical Office reports.

Compared to the previous quarter, the economic performance increased by 1.1% according to seasonally and calendar adjusted and reconciled data. In 2020, the volume of GDP was 5.1% lower than in the previous year.

Compared to the previous quarter, the performance of the economy grew by 1.1% in the 4th quarter. The main drivers of the increase were industry as well as in information and communication.

Compared to the same quarter of the previous year, the economic performance went down by 3.7% according to raw data and by 4.3% according to seasonally and calendar adjusted and reconciled data.

In 2020, the economic performance became 5.1% lower according to raw data compared to the previous year.