Hungary GDP drops yr/yr and on quarter in Q1

Analysts polled by MTI on Tuesday said Hungary's economy was likely to stagnate or contract this year. The Central Statistical Office (KSH) said in a first reading on Tuesday that Hungary's gross domestic product (GDP) fell by an annual 0.7 percent in the first quarter of 2012 according to unadjusted data and fell 1.3 percent on workday-adjusted figures.