Hungary Industry June 2020

Hungary

Hungary: Decline in industrial output softens in June

August 6, 2020

Industrial output decreased 12.2% year-on-year in June (May: -27.6% yoy), according to a preliminary estimate. Although the fall 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 17.1% in seasonally-adjusted terms in June, significantly above May’s 15.6% expansion and marking the best result on record. Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 4.5% in June, down from May's minus 3.1% reading.

FocusEconomics Consensus Forecast panelists project industrial production to contract 10.8% in 2020, which is down 1.7 percentage points from last month’s projection. For 2021, the panel sees industrial output growing 6.7%.


Author:, Economist

Sample Report

Looking for forecasts related to Industry in Hungary? Download a sample report now.

Download

Hungary Industry Chart


Hungary Industry June 20 20

Note: Year-on-year changes and annual average variation of industrial production index in %.
Source: Hungarian Central Statistics Office and FocusEconomics calculations.


Hungary Economic News

More news

Search form