RTTNews - Tuesday, the Hungarian Central Statistical Office announced that the gross domestic product or GDP dropped 6.7% year-on-year in the first quarter, revised from a 6.4% decline reported initially. In the fourth quarter, the GDP was down 2.5%.
Adjusting for calendar effects, the GDP dropped 6.1% annually in the first quarter compared to a 2.7% fall in the preceding quarter.
Sequentially, the GDP dipped a seasonally adjusted 2.5% in the first quarter, faster than a 1.8% fall in the fourth quarter.
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