Hungarian economy falls into deeper recession in Q4

Hungary's economic output decreased further in the last three months of 2012 keeping the economy in the recession mainly due to a decline of industrial and agricultural activity, the Central Statistical Office reported on Friday. Year-on-year, the country's gross domestic product dropped 2.7% in the Q4 and it recorded a 0.9% slip on a monthly basis, while for the year 2012 the overall economy fell 1.7%.