Hungary: Industrial activity downturn extends in June
Latest reading: Industrial output fell 5.0% year on year in June, which was a deterioration from May’s 2.2% decrease and marked the sixteenth consecutive month of decline in the sector. The deterioration reflected a sharper drop in manufacturing and slower growth in electricity, gas, steam and air conditioning production. Meanwhile, mining output rebounded.
On a seasonally adjusted monthly basis, factory output fell at a sharper rate of 1.3% in June (May: -1.1% mom s.a.), the worst result so far this year. Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 4.8% in June, down from May’s minus 4.7%.