Hungary: Decline in industrial output softens in July
September 4, 2020
Industrial output decreased 7.7% year-on-year in July (June: -12.2% yoy), according to a preliminary estimate. Although the contraction was softer than in the previous month, the fallout from the Covid-19 health crisis continued to hamper industrial output, particularly in the manufacturing sector.
On a monthly basis, industrial output increased 7.2% in seasonally-adjusted terms in July, below June’s 17.1% expansion which had marked the best result on record. Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 5.7% in July, down from June's minus 4.3% reading.