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HUNGARY Q1 GDP FALLS 2.1%

 

Hungary’s economic output declined by an annual 2.1% in the first quarter, the Central Statistical Office (KSH) said in a second reading of data. The decline was revised up from a 2.3% drop in a first reading published on May 18. The scale of the contraction was the smallest since the start of the coronavirus crisis. Hungary’s annual GDP has declined every quarter since Q2 2020. In a quarter-on-quarter comparison, GDP rose a seasonally and calendar year-adjusted 2%, revised up from 1.9% in the first reading.