May 15, 2020 / 7:01 AM / 17 days ago

Hungary's Q1 GDP growth 2.2% vs 4.5% in Q4, above fcasts - stats

    BUDAPEST, May 15 (Reuters) - Hungary's economic growth rate
 halved to an annual 2.2% in the first quarter from
4.5% in the fourth quarter, slightly above analyst forecasts,
preliminary unadjusted data showed on Friday.
    Analysts had expected a 2 percent expansion.
    The economy contracted by 0.4% from the prior quarter, the
first time quarterly contraction was observed since early 2016
and the second time since 2012, the Central Statistical Office
(KSH) said. 
    The extraordinary situation due to the coronavirus pandemic
affected most sectors negatively, but market services and to a
lesser extent industrial production continued to drive the
economy in the first quarter overall, the KSH said.
    
 GDP CHANGE                 Q1 2020      Q4 2019       Q1 2019
                                                  
 Unadjusted y/y                 2.2          4.5           5.3
 Calendar-adjusted y/y          1.8          4.5           5.3
 Seasonally and                 1.9          0.7          -0.4
 calendar-adjusted q/q                            
 
 (Reporting by Marton Dunai)
  
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