Hungary: Industrial output growth eases in March
According to a second estimate by the Statistical Institute, industrial output grew 4.2% in year-on-year terms in March, which followed February’s 4.8% increase. The slowdown was largely driven by a deterioration in manufacturing output growth. In addition, mining and quarrying output decelerated.
On a seasonally-adjusted monthly basis, factory output fell 0.1% in March (February: +1.9% mom), the worst result since August 2021. Meanwhile, annual average industrial production growth fell to 12.2% in March (February: +13.2%). This signals a worsening trend in the industrial sector.