Hungary Industry February 2022

Hungary

Hungary: Industrial output growth slides to 10-month low in February

April 14, 2022

According to the Statistical Institute, industrial output rose 4.5% compared to the same month a year earlier in February, which was a deterioration from January's 7.1% increase. The notable weakening was largely driven by a deterioration in manufacturing production growth. In contrast, mining and quarrying output improved.

On a monthly basis, industrial output rose 1.6% in seasonally-adjusted terms in February, which was below January’s 2.0% expansion. Meanwhile, the trend pointed down, with the annual average growth of industrial production coming in at 22.0% in February, down from January's 22.3% 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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