Hungary: Decline in industrial output softens in March
Latest reading: According to a second estimate by the Statistical Institute, industrial output shrank 5.1% in seasonally and calendar-adjusted year-on-year terms in March (February: -8.0% yoy). The softer drop was driven by a milder fall in manufacturing production. Conversely, mining and quarrying output weakened at the fastest pace since December 2023.
That said, March saw industrial production rise 0.1% in seasonally and calendar-adjusted month-on-month terms, improving from February’s 1.2% fall. Still, the trend pointed down, with the annual average variation of industrial production coming in at minus 5.1%, deteriorating from February’s minus 4.9% reading.