Hungary Industry December 2020


Hungary: Industrial output growth softens in December

February 12, 2021

Industrial output expanded 1.1% year-on-year in December (November: +1.5% yoy), according to a second estimate.

On a monthly basis, industrial output dropped 2.4% in seasonally-adjusted terms in December, following November’s 1.0% fall. Meanwhile, the trend improved, with the annual average variation of industrial production coming in at minus 7.1% in December, from November's minus 7.4% reading.

FocusEconomics Consensus Forecast panelists project industrial output to increase 7.4% in 2021, which is up 0.6 percentage points from last month’s projection. For 2022, the panel projects industrial output to expand 4.8%.

Author: Massimo Bassetti, Senior Economist

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Hungary Industry Chart

Hungary Industry December 20 20 0

Note: Year-on-year changes and annual average variation of industrial production index in %.
Source: Hungarian Central Statistics Office and FocusEconomics calculations.

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