The Hungarian economy remained in recession in the fourth quarter as initially estimated largely due to declines in agricultural and industrial activity, final data released by the Central Statistical Office showed Friday.
Gross domestic product was down 2.7 percent year-on-year, sharper than the 1.7 percent fall seen in the prior month. On a sequential basis, GDP dropped 0.9 percent in the fourth quarter.
The fourth quarter GDP figures matched preliminary estimate published on February 14. In 2012 as a whole, the overall economy shrank 1.7 percent.
by RTT Staff Writer
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