Hungarian Parliament building

Hungary Industrial production April 2024

Hungary: Decline in industrial activity softens in April

According to a second estimate by the Statistical Institute, industrial output dropped 2.1% compared to the same month a year earlier in April, which was a smaller contraction than March’s 3.4% decrease. The reading reflected a broad-based upturn, with activity in the manufacturing, mining and quarrying and electricity, gas, steam and air conditioning sub-sectors all improving in April.

On a monthly basis, factory output declined 1.5% in seasonally adjusted terms in April, moderating from March’s 2.4% fall. Meanwhile, the trend improved, with the annual average variation of industrial production coming in at minus 4.0% in April, up from March’s minus 4.2%.

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