The Hungarian economy recovered modestly in the second quarter, after staying in recession for more than a year, preliminary data released by the Central Statistical Office showed Wednesday.
Gross domestic product (GDP), on an unadjusted basis, increased 0.5 percent in the June quarter from the corresponding period of last year, reversing the first quarter's 0.9 percent contraction.
GDP recorded positive growth for the first time since the fourth quarter of 2011. Economists had forecast a faster increase of 0.6 percent for the second quarter.
The rebound was driven mainly by the improved performance of the sectors of industry, agriculture and construction, data showed.
On a seasonally and calendar-adjusted basis, GDP moved up 0.2 percent year-on-year in the second quarter, following the first quarter's 0.5 percent fall.
Sequentially, GDP increased a seasonally and calendar-adjusted 0.1 percent during the three-month period, slower than the first quarter's 0.6 percent growth.
by RTT Staff Writer
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