Hungary Industry April 2022

Hungary

Hungary: Industrial output growth improves in April

June 15, 2022

According to a second estimate by the Statistical Institute, industrial output grew 4.7% year on year in April (March: +4.2% yoy). April's pickup was largely due to faster growth in manufacturing production. In contrast, mining and quarrying output lost steam.

On a seasonally-adjusted monthly basis, industrial output fell at a quicker rate of 1.6% in April (March: -0.2% mom), the worst result since August 2021. Meanwhile, the trend pointed down, with the annual average growth of industrial production coming in at a one-year low of 7.7%, down from March's 12.2% reading.

FocusEconomics Consensus Forecast panelists project industrial output to increase 6.1% in 2022, which unchanged from last month’s projection. For 2023, the panel projects industrial output to expand 4.2%.


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