Orban’s ‘Flying Start’ Stalls as Hungary’s Economy Contracts
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Hungary’s economy unexpectedly contracted in the first quarter due to an industry slump, highlighting the country’s trade exposure even before US President Donald Trump embarked on a global tariff war.
Gross domestic product dropped 0.2% from the fourth quarter of last year and was flat on an annual basis, the Budapest-based statistics office said on Wednesday. The median estimate in a Bloomberg survey was for 0.4% growth for both quarterly and annual GDP. In contrast, the Czech economy grew 0.5% on a quarterly basis and 2% annually.