Historic Fall in Hungarian Economic Data

The gross domestic product of Hungary went down by 13.6% according to raw data and by 13.5% according to seasonally and calendar adjusted and reconciled data in the 2nd quarter of 2020 compared to the corresponding period of the previous year.

According to an explanation by the Central Statistical Office, the extraordinary situation resulting from the corona virus pandemic caused production to decline in most sections of the economy, services and industry both largely contributed to the change in the economic performance. In the first half of the year, the economic performance decreased by 6.1% according to raw data.