Hungary: Decline in industrial output softens in June
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.