Economic performance grows by 1.9% compared to previous quarter and decreases by 2.3% according to raw data compared to a year earlier
The gross domestic product of Hungary went down by 2.3% according to raw data and by 1.8% according to seasonally and calendar adjusted and reconciled data in the 1st quarter of 2021 compared to the corresponding period of the previous year. Compared to the previous quarter, the economic performance increased by 1.9% according to seasonally and calendar adjusted and reconciled data.
Compared to the previous quarter, the performance of the economy grew by 1.9% in the 1st quarter. The main drivers of the increase were industry, financial and insurance activities as well as information and communication.
Compared to the same quarter of the previous year, the economic performance went down by 2.3% according to raw data and by 1.8% according to seasonally and calendar adjusted and reconciled data1.
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 | |
| 2018 | 105.0 | 105.4 | 105.6 | 105.5 | 105.2 | 105.3 | 105.4 | 105.4 | 105.2 | 105.7 | 105.4 | 105.3 | 105.4 | 105.4 |
| 2019 | 105.0 | 104.6 | 104.8 | 104.3 | 104.8 | 104.8 | 104.6 | 105.0 | 104.7 | 104.7 | 104.3 | 104.8 | 104.8 | 104.6 |
| 2020 | 102.1 | 86.7 | 95.4 | 96.5 | 94.0 | 94.5 | 95.0 | 101.7 | 86.7 | 95.4 | 96.2 | 93.9 | 94.4 | 94.9 |
| 2021 | 97.7 | 98.0 | ||||||||||||
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 | |||||||
| 2018 | 105.4 | 105.3 | 105.6 | 105.4 | 105.4 | 105.4 | 105.4 |
| 2019 | 105.3 | 104.9 | 104.1 | 104.2 | 105.1 | 104.8 | 104.6 |
| 2020 | 102.1 | 86.7 | 94.7 | 96.1 | 94.4 | 94.5 | 94.9 |
| 2021 | 98.2 | ||||||
The ’annualised index’, built on dynamics projected for the future and published for a long time in US dissemination practice, indicates a 7.7% growth for the 1st 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 | |||||||
| 2018 | 101.8 | 101.1 | 101.0 | 101.4 | 107.4 | 104.5 | 104.2 | 105.6 |
| 2019 | 101.7 | 100.7 | 100.3 | 101.4 | 107.0 | 102.9 | 101.1 | 105.8 |
| 2020 | 99.7 | 85.5 | 109.6 | 102.8 | 98.6 | 53.6 | 144.3 | 111.7 |
| 2021 | 101.9 | 107.7 | ||||||
* It is assumed in the 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.