Gross Domestic Product (seasonally unadjusted, constant average prices of the previous year) decreased by 1.5 percent on an annual basis in the third quarter od 2020 compared to an 8.4 percent y/y decline in the previous quarter, the Central Statistical Office (GUS) reported, presenting the second estimates of these data. According to a quick estimate (published in mid-August), the decline in GDP in this approach was 1.6 percent.
"In the third quarter of 2020, seasonally adjusted GDP (constant prices at the reference year 2015) increased in real terms by 7.9 percent compared to the previous quarter and was lower than a year before by 1.8 percent," we read further.
In non-seasonally adjusted terms, domestic demand fell by 3.2 percent in Q3 2020, compared to a decline of 8.9 percent in Q2 2020.
Total consumption in Q3 this year increased by 1 percent (in non-seasonally adjusted terms), including consumption in the household sector (by 0.4 percent), public consumption (3.4 percent) - in 2020 Q2, respectively: minus 7.5 percent, minus 10,8 percent, plus 3.4 percent, the GUS also reported.