Hungary’s gross domestic product (GDP) fell by 0.4pc in the fourth quarter of 2009 from the third quarter according to seasonally and calendar-adjusted figures, and fell an unadjusted 4.0pc and a workday-adjusted 4.1pc from Q4 2008, the Central Statistics Office (KSH) said in a first reading published on Friday.
Adjusted quarter-on-quarter growth slowed from a downward revised 1.2pc in the third quarter and yr/yr contraction also dropped from an adjusted and unadjusted 7.1pc in Q3.
GDP in 2009 fell 6.3pc according to unadjusted figures and fell 6.2pc according to calendar-adjusted figures.
The preliminary full-year contraction compares to an official projection for a 6.7pc fall in 2009, and an unadjusted 0.6pc and an adjusted 0.4pc GDP rise in 2008.
Analysts polled by the business daily Napi estimated a 4.8pc yr/yr GDP fall for the fourth quarter, and London analysts polled by MTI put the yr/yr decline between 4.5pc and 5.1pc in Q4.
In a year-on-year comparison, Hungary’s economy started contracting in Q4 2008.
In a quarterly comparison, GDP has fallen now for the seventh quarter in a row.
KSH will publish a second reading and details of Q4 2009 GDP on March 10.