Hungary Continues Downward Trend

BusinessEconomy ♦ Published: December 18, 2012; 00:56 ♦ (Vindobona)

In the third quarter, Hungary´s GDP contracted by 1.5%, OECD says. The whole year will bring similar results.

Hungary Continues Downward Trend / Picture: ©

Hungary did not leave the double-dip recession yet. Even more, a recovery is not in sight for Hungary´s economy. In the first nine months of 2012, Hungary´s economy shrank by 1.3% compared to the reference period of 2011. This was calculated by the Hungarian Central Statistical Office. As a result, Hungary´s recession is more drastic than in the Eurozone, where the economy contracted…