Hungary: Industrial activity dips in November
According to a second estimate by the Statistical Institute, industrial output dropped 5.0% in year-on-year terms in November, which was a deterioration from October’s 3.0% decrease. Looking at the details of the release, the contraction in manufacturing production deepened in November, and the decline in mining and quarrying output worsened.
On a monthly basis, industrial production dropped 2.3% in seasonally adjusted terms in November, which was greater than October’s 0.5% fall and marked the worst result since January Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at a two-year low of minus 3.7% in November, down from October’s minus 3.2%.