Economic performance grows by 1.1% compared to previous quarter and decreases by 3.7% compared to a year earlier
The gross domestic product of Hungary went down by 3.7% according to raw data and by 4.3% according to seasonally and calendar adjusted and reconciled data in the 4th quarter of 2020 compared to the corresponding period of the previous year. Compared to the previous quarter, the economic performance increased by 1.1% according to seasonally and calendar adjusted and reconciled data. In 2020, the volume of GDP was 5.1% lower than in the previous year.
Compared to the previous quarter, the performance of the economy grew by 1.1% in the 4th quarter. The main drivers of the increase were industry as well as in information and communication.
Compared to the same quarter of the previous year, the economic performance went down by 3.7% according to raw data and by 4.3% according to seasonally and calendar adjusted and reconciled data.
In 2020, the economic performance became 5.1% lower according to raw data compared to the previous year.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 | 96.3 | 93.9 | 94.5 | 94.9 | 101.9 | 86.4 | 95.4 | 95.9 | 93.8 | 94.4 | 94.8 |
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 | 104.8 | 104.4 | 104.0 | 105.0 | 104.8 | 104.6 |
| 2020 | 101.9 | 86.3 | 95.2 | 95.7 | 94.1 | 94.5 | 94.8 |
The ’annualised index’, published for a long time in US dissemination practice and built on dynamics projected for the future, indicates a 4.5% growth for the 4th 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 | 105.9 | 105.0 | 103.5 | 105.7 |
| 2018 | 101.8 | 101.1 | 101.3 | 101.1 | 107.5 | 104.5 | 105.1 | 104.3 |
| 2019 | 101.6 | 100.7 | 100.9 | 100.6 | 106.7 | 103.0 | 103.8 | 102.4 |
| 2020 | 99.6 | 85.4 | 111.4 | 101.1 | 98.4 | 53.1 | 153.7 | 104.5 |
* It is assumed in calculations that the change compared to the previous quarter remains constant for four quarters. The annualised index decreases sooner as an impact of an unexpected decline and 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.