Hungarian Economy Slips Into Second Recession in 4 Years

Hungary’s economy entered its second recession in four years before a resumption in talks over an International Monetary Fund-led bailout loan.

The economy contracted a preliminary 0.2 percent in the second quarter from the previous three-month period, when it shrank a revised 1 percent, the Budapest-based statistics office said today. Gross domestic product fell 1.2 percent from a year earlier, compared with the 1.3 percent median forecast of 13 economists in a Bloomberg survey.