In the first quarter of 2013, Hungary’s economy expanded by 0.7 percent compared to the previous quarter, which means that recession, in a technical sense, has come to an end in Hungary. According to unadjusted data GDP fell by 0.9 percent year-on-year, while seasonally- and calendar-effect adjusted data signal that the economy shrank by 0.3 percent compared to the first quarter of 2012. Thanks to the stability measures introduced so far, the Hungarian economy has entered an upward economic path, and the latest data corroborate the Government’s 0.7 percent growth estimate for 2013 as laid down in the Convergence Programme.

For more informations please check the attached document on the reight side of the page!

(Ministry for National Economy)