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Hungarian recession has come to an end - statistically

HungaryPosted by Chambers of Commerce Sweden - Southeast Europe Thu, June 27, 2013 17:54:11

"In Hungary recession has come to an end in statistical terms", writes the Hungarian GKI Economic Research Institute in its forecast for 2013. However, there are no genuine changes, as investments and consumption continued to decline compared with the previous quarter, and only exports (and, to a larger extent, imports) increased. Data showing unfavourable performance of industry, foreign trade and retail trade in the first quarter of 2013 improved slightly in April. The banking system is in "survival mode". In the first four months employment at companies employing more than five persons and in the public sector declined by 0.7 per cent. However, CSO surveys show that the proportion of those doing some kind of work increased by 1 per cent. Read the full report here.

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