RTTNews - Friday, Hungary's Central Statistical Office announced that the gross domestic product or GDP declined 6.4% year-over-year in the first quarter, compared with a revised 2.5% fall recorded in the previous quarter. Economists were looking for a decrease of 7%. A year ago, the GDP was up 1.8%.

At the same time, the GDP dropped a calendar adjusted 5.8%, after falling 2.6% in the previous quarter.

On a sequential basis, the GDP declined 2.3% in the first quarter, compared with a 1.5% drop in the preceding quarter.

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