Hungarian Economic Performance Slightly Down

Hungary’s gross domestic product (GDP) decreased by 0.9% according to raw data and by 1.1% according to seasonally and calendar adjusted and reconciled data in the 1st quarter of 2023 compared to the corresponding period of the previous year.

Compared to the previous quarter, the economic performance diminished by 0.2% according to seasonally and calendar adjusted and reconciled data.

The economic performance was 0.9% lower according to raw data and 1.1% lower according to seasonally and calendar adjusted and reconciled data than in the same quarter of the previous year.

The largest contributor to the decrease in the economic performance was industry. The good performance of agriculture and of services moderated the decline. The main contributor to the growth in services was health activities, approximating the level before the coronavirus pandemic.

Compared to the previous quarter, the performance of the economy diminished by 0.2% in the 1st quarter, the Central statistical Office reports.