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Hungary's GDP falls by 2.1 pc in second quarter of 2009

Fri, Aug 14 2009 12:14 CET

byThe Budapest Times

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Hungary's GDP falls by 2.1 pc in second quarter of 2009

Photo: Laszlo Balogh

Hungary's GDP fell by 2.1 per cent in the second quarter of 2009 from the first quarter in seasonally and calendar-adjusted terms, dropping in a quarter-on-quarter comparison for the fifth quarter in row, according to a first estimate by the Central Statistical Office (KSH) published on August 13.

The recession decelerated from a 2.6 per cent GDP contraction in the first quarter of the year, while year-on-year figures show a deepening decline.

The second quarter GDP contraction was deeper than analysts had forecast. In a Reuters poll conducted in late July, analysts estimated a 7.1 per cent year-on-year GDP decline for the second quarter.

Read the full article on The Budapest Times.

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