Hungary: Industrial activity drops at sharpest pace since October 2009 in March
Industrial production decreased 10.0% year-on-year in March (February: +1.7% yoy) as the impact of the Covid-19 pandemic took its toll on activity. March’s figure marked the steepest contraction since October 2009.
On a seasonally-adjusted monthly basis, industrial production fell 10.4% in March, which contrasted February’s 0.2% expansion. The reading marked the worst result since December 2010. Meanwhile, the trend pointed down, with the annual average growth of industrial production coming in at 3.3%, down from February’s 4.8%.