The gross domestic product of Hungary went down by 4.6% according to raw data and by 4.7% according to seasonally and calendar adjusted and reconciled data in the 3rd quarter of 2020 compared to the corresponding period of the previous year.
However, data just released by the country's Central Statistical Office also suggest that compared to the previous quarter, the economic performance increased by 11.3% according to seasonally and calendar adjusted and reconciled data.
The recovery from the pandemic crisis started in the 3rd quarter, the performance of most industries went up compared to the previous quarter.
The decrease in the economic performance compared to the same period of the previous year was moderated mainly by growths in information and communication as well as financial services.
In the first three quarters of the year, the economic performance was down by 5.6% compared to the corresponding period of the previous year according to raw data.
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