Hungarian Parliament building

Hungary Industrial production January 2024

Hungary: Decline in industrial activity softens in January

According to a second estimate by the Statistical Institute, industrial output declined 4.0% year on year in January (December: -6.6% yoy). January’s softer drop was partly due to a softer fall in manufacturing production. In addition, mining and quarrying production rebounded.

On a seasonally adjusted monthly basis, industrial output rebounded, rising 9.8% in January (December: -17.7% mom). Meanwhile, annual average variation of industrial production was unchanged coming in at December’s 4.8% in January.

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