Hungary’s economy shrank by an annual 3.6% in the fourth quarter of 2020, slowing from a 4.6% decline in Q3, the Central Statistical Office (KSH) said.
The drop was revised up from 3.7% in a first reading of the data released on February 16. Adjusted for seasonal and working-day effects, GDP fell by 4.1%. For the full year, GDP dropped by 5%. In a quarter-on-quarter comparison, adjusted for seasonal and workday effects, GDP rose by 1.4%, revised up from 1.1% in the first reading.