Hungary Industry


Industrial production drops to lowest level in five months

According to data released by the statistical institute (KSH) on 12 July, industrial output dropped a working-day adjusted 2.1% over the same month last year in May, marking the lowest rate in five months. The print contrasted the 2.9% rise seen in April and was mainly due to a drop in manufacturing output as well as a shaper fall in electricity, gas, steam and air conditioning.

Compared to the previous month, industrial production dropped a seasonally and working-day adjusted 1.3% in May, which contrasted the 1.2% increase seen in April. As a result of the annual fall, annual average growth in industrial production deteriorated, dropping from minus 0.7% in April to minus 1.1% in May.

FocusEconomics Consensus Forecast panellists expect industrial production to grow 1.0% this year, which is down 0.4 percentage points from last month's projection. For next year, the panel expects industrial output to expand a stronger 3.7%.


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Hungary Industry Chart

Hungary Industry May 2013

Note: Year-on-year changes and annual average variation of industrial production index in %.
Source: Hungarian Central Statistics Office and FocusEconomics calculations.

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