Hungary Current-Account Surplus Shrinks in 4th Quarter

Hungary’s current-account surplus narrowed more than economists forecast in the fourth quarter.

The surplus was 242 million euros ($310 million), compared with a revised 843 million-euro surplus in the third quarter and a surplus of 1 million euros a year earlier, the Budapest-based central bank said in an e-mailed statement today. The median estimate in a Bloomberg survey of 12 economists was for 268 million euros.

Hungary, whose economy is suffering from a second recession in four years, has run current-account surpluses for the past three quarters, central bank data show.

To contact the reporter on this story: Zoltan Simon in Budapest at zsimon@bloomberg.net

To contact the editor responsible for this story: Balazs Penz at bpenz@bloomberg.net

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