Hungary's?economy?shrank for the third straight quarter in the three months ending September, though at a slower pace, preliminary data from the Hungarian Central Statistical Office showed on Tuesday.
Gross domestic product fell an unadjusted 0.4 percent year-on-year in the third quarter, following a 2.4 percent fall in the previous quarter.
Further, the economy remained in recession in the September quarter, as the GDP contracted for the third straight quarter.
On an adjusted basis, GDP decreased 0.3 percent in the third quarter versus a 2.2 percent decline in the previous quarter.
The decrease in economic performance was mostly owing to falls in industry and market services, which are mainly in wholesale and retail trade as well as scientific, technical, and administrative activities, the agency said.
Compared to the previous quarter, the Hungarian economy expanded 0.9 percent in the third quarter after remaining flat in the previous quarter.
