Orban’s ‘Flying Start’ Stalls as Hungary’s Economy Contracts (1)

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.

The Hungarian data underscored Prime Minister Viktor Orban’s vulnerability before elections next ...