Economic performance grows by 11.3% compared to previous quarter and decreases by 4.6% compared to a year earlier
The gross domestic product of Hungary went down by 4.6% according to raw data and by 4.7% according to seasonally and calendar adjusted and reconciled data in the 3rd quarter of 2020 compared to the corresponding period of the previous year. Compared to the previous quarter, the economic performance increased by 11.3% according to seasonally and calendar adjusted and reconciled data.
The recovery from the pandemic crisis started in the 3rd quarter, the performance of most industries went up compared to the previous quarter.
The decrease in the economic performance compared to the same period of the previous year was moderated mainly by growths in information and communication as well as financial services.
In the first three quarters of the year, the economic performance was down by 5.6% compared to the corresponding period of the previous year according to raw data.1
Volume indices of GDP
(corresponding period of previous year = 100.0)
(%)
| Year | Unadjusted, raw data | Calendar adjusted data | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| I | II | III | IV | I–II | I–III | I–IV | I | II | III | IV | I–II | I–III | I–IV | |
| 2017 | 104.7 | 103.7 | 104.3 | 104.6 | 104.2 | 104.2 | 104.3 | 104.3 | 104.1 | 104.4 | 105.0 | 104.2 | 104.3 | 104.5 |
| 2018 | 105.0 | 105.4 | 105.6 | 105.6 | 105.2 | 105.4 | 105.4 | 105.4 | 105.2 | 105.8 | 105.4 | 105.3 | 105.5 | 105.4 |
| 2019 | 105.0 | 104.5 | 104.7 | 104.2 | 104.7 | 104.7 | 104.6 | 105.0 | 104.7 | 104.6 | 104.2 | 104.8 | 104.7 | 104.6 |
| 2020 | 102.2 | 86.4 | 95.4 | 93.9 | 94.4 | 101.9 | 86.4 | 95.4 | 93.8 | 94.3 | ||||
Seasonally and calendar adjusted and reconciled volume indices of GDP
(%)
| Year | I | II | III | IV | I–II | I–III | I–IV |
|---|---|---|---|---|---|---|---|
| corresponding period of previous year = 100.0 | |||||||
| 2017 | 104.3 | 104.1 | 104.5 | 105.0 | 104.2 | 104.3 | 104.5 |
| 2018 | 105.4 | 105.3 | 105.7 | 105.3 | 105.4 | 105.5 | 105.4 |
| 2019 | 105.1 | 104.7 | 104.4 | 104.0 | 104.9 | 104.8 | 104.6 |
| 2020 | 102.0 | 86.5 | 95.3 | 94.2 | 94.6 | ||
The ’annualised index’, published for a long time in US dissemination practice and built on dynamics projected for the future, indicates a 53.5% growth for the 3rd quarter, after a 46.8% decline measured for the previous quarter. The annualised index shows the extent of annual change, supposing that the volume change in the current quarter – compared to the previous quarter – continued for four quarters.
Seasonally and calendar adjusted quarterly and annualised* volume indices of GDP
(%)
| Year | I | II | III | IV | I | II | III | IV |
|---|---|---|---|---|---|---|---|---|
| previous quarter = 100.0 | annualised index | |||||||
| 2017 | 101.5 | 101.2 | 100.9 | 101.4 | 106.1 | 104.9 | 103.6 | 105.7 |
| 2018 | 101.8 | 101.1 | 101.3 | 101.0 | 107.4 | 104.5 | 105.3 | 104.1 |
| 2019 | 101.6 | 100.8 | 101.0 | 100.6 | 106.6 | 103.2 | 104.1 | 102.4 |
| 2020 | 99.6 | 85.4 | 111.3 | 98.4 | 53.2 | 153.5 | ||
* It is assumed in calculations that the change compared to the previous quarter remains constant for four quarters. Although the annualised index decreases sooner as an impact of an unexpected decline, it better follows the trend of recovery than the seasonally and calendar adjusted and reconciled volume index compared to the corresponding period of the previous year.