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Hungary Industrial production August 2023

Hungary: Industrial activity drops at sharpest pace since July 2020 in August

Industrial production collapsed 6.3% year on year in August (July: -3.7% yoy), according to a preliminary estimate. August’s figure marked the worst reading since July 2020.

On a seasonally adjusted monthly basis, factory output fell 2.4% in August (July: +2.8% mom). Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at a two-year low of minus 1.1% in August, contrasting July’s plus 0.1%.

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