Hungary: Industrial production gains steam in May
Latest reading: Industrial production rose 5.5% in annual terms in May, following a 1.3% increase in the prior month. May’s reading was the strongest since December 2022.
Relative to the prior month’s data, the reading for manufacturing improved in May (+5.8% on a year-on-year basis vs +0.9% in April). In contrast, readings softened for mining and quarrying (+55.7% vs +72.5% in April) and electricity, gas, steam and air conditioning (-8.9% vs -0.3% in April).
In seasonally adjusted month-on-month terms, industrial production was up 2.3% in May, following a 1.0% decline in the previous month.