Hungary Industry June 2022

Hungary

Hungary: Industrial output growth moderates in June

August 12, 2022

According to a second estimate by the Statistical Institute, industrial output expanded 1.5% year on year in June (May: +3.4% yoy). June's reading was largely due to weaker manufacturing output. In addition, electricity, gas, steam and air conditioning output contracted.

On a monthly basis, industrial output grew 0.6% in seasonally-adjusted terms in June, following May’s 1.4% increase. Meanwhile, annual average industrial production growth fell to 3.9% in June (May: +4.6%). This signals a worsening trend in the industrial sector.

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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