In 3rd quarter 2023, economic performance up by 0.9% compared to previous quarter but 0.4% lower than in same period of 2022
Hungary’s gross domestic product decreased by 0.4% according to raw data and by 0.3% according to seasonally and calendar adjusted and reconciled data in the 3rd quarter of 2023 compared to the corresponding period of the previous year. Compared to the previous quarter, the economic performance was up by 0.9% – according to seasonally and calendar adjusted and reconciled data –, ending the recession.
The economic performance was 0.4% lower according to raw data and 0.3% lower according to seasonally and calendar adjusted and reconciled data in the 3rd quarter of 2023 than in the same period of the previous year.1
The decrease in the economic performance was mostly owing to falls in industry and market services, within which latter mainly in wholesale and retail trade as well as scientific, technical and administrative activities. The good performance of agriculture lowered the reduction. The decrease in the value added of services was partly offset by a significant growth in section human health and social work activities.
Compared to the previous quarter, the performance of the economy went up by 0.9%.
Gross domestic product was 1.2% lower in quarters 1–3 of 2023 according to both raw data and seasonally and calendar adjusted and reconciled data than in the corresponding period of the previous year.
Volume indices of GDP
(corresponding period of previous year = 100.0)
(%)
| Year | Unadjusted, raw data | Calendar-adjusted data | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| quarter(s) | quarter(s) | |||||||||||||
| I | II | III | IV | I–II | I–III | I–IV | I | II | III | IV | I–II | I–III | I–IV | |
| 2020 | 102.1 | 87.2 | 95.8 | 97.2 | 94.3 | 94.8 | 95.5 | 101.9 | 87.2 | 95.8 | 96.8 | 94.2 | 94.7 | 95.3 |
| 2021 | 97.7 | 117.7 | 106.2 | 107.4 | 107.4 | 107.0 | 107.1 | 98.0 | 117.5 | 106.2 | 107.2 | 107.4 | 107.0 | 107.0 |
| 2022 | 107.9 | 106.7 | 104.3 | 100.2 | 107.3 | 106.2 | 104.6 | 107.7 | 106.7 | 104.1 | 100.6 | 107.1 | 106.1 | 104.6 |
| 2023 | 99.1 | 97.6 | 99.6 | 98.3 | 98.8 | 98.9 | 97.8 | 99.8 | 98.3 | 98.8 | ||||
Seasonally and calendar adjusted and reconciled volume indices of GDP
(%)
| Year | Quarter(s) | ||||||
|---|---|---|---|---|---|---|---|
| I | II | III | IV | I–II | I–III | I–IV | |
| corresponding period of previous year = 100.0 | |||||||
| 2020 | 101.9 | 86.8 | 95.7 | 96.7 | 94.4 | 94.8 | 95.3 |
| 2021 | 98.2 | 117.5 | 106.5 | 107.4 | 107.1 | 106.9 | 107.0 |
| 2022 | 107.7 | 106.4 | 103.9 | 100.5 | 107.0 | 106.0 | 104.6 |
| 2023 | 98.9 | 97.8 | 99.7 | 98.3 | 98.8 | ||
Seasonally and calendar adjusted quarterly volume indices of GDP
(%)
| Year | Quarter | |||
|---|---|---|---|---|
| I | II | III | IV | |
| previous quarter = 100.0 | ||||
| 2020 | 99.6 | 85.5 | 111.7 | 101.7 |
| 2021 | 101.2 | 102.3 | 101.3 | 102.5 |
| 2022 | 101.4 | 101.1 | 98.9 | 99.2 |
| 2023 | 99.8 | 100.0 | 100.9 | |