Budapest – Hungary’s gross domestic product (GDP) experienced a decrease of 0.9% based on raw data and 1.1% according to seasonally and calendar adjusted and reconciled data in the first quarter of 2023, compared to the corresponding period of the previous year. Additionally, there was a 0.2% decline in economic performance compared to the previous quarter, as per the seasonally and calendar adjusted and reconciled data.
The economic performance of Hungary was 0.9% lower based on raw data and 1.1% lower according to the seasonally and calendar adjusted and reconciled data compared to the same quarter of the previous year. The industry sector played a significant role in this decline, while the agricultural and services sectors helped moderate the decrease. Notably, health activities within the services sector showcased positive growth, reaching levels seen before the coronavirus pandemic.
Comparing the first quarter to the previous quarter, there was a 0.2% decline in the overall economic performance.