Hungary: Industrial output falls at sharpest rate since January in September
November 12, 2021
According to a second estimate by the Statistical Institute, industrial output declined 1.7% compared to the same month a year earlier in September, which contrasted August's 0.5% increase. The result marked the steepest contraction since January. The notable weakening was partly driven by a deterioration in manufacturing production, which fell at the sharpest pace since January In addition, mining and quarrying production also weakened.
On a monthly basis, industrial production decreased 0.3% in seasonally-adjusted terms in September, which was significantly better than August’s 2.9% fall. Meanwhile, annual average growth of industrial production was stable coming in at August's 12.6% in September.