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, unchanged from the preliminary ones, the Central Statistics Office (KSH) said in a second reading on Wednesday. The quarterly contraction was the smallest one since Q3 2008. The yr/yr contraction slowed now for the second quarter.
Hungary’s GDP has fallen now for the seventh quarter in a row in an adjusted quarterly comparison, and has contracted for the fifth quarter in an annual comparison.
GDP in 2009 fell 6.3pc according to unadjusted figures and fell 6.2pc according to calendar-adjusted figures. The contraction was below the official projection for a 6.7pc GDP drop.
Hungary’ GDP was HUF 26,095bn at current prices in 2009, and GDP per head was HUF 2.604m.
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