Hungary: Industrial output growth softens in November
January 13, 2021
Industrial output expanded 1.6% year-on-year in November (October: +2.7% yoy), according to a second estimate.
Looking at the details of the release, November's softer increase was due to a milder rise in production in the manufacturing sub-sector more than offsetting a faster expansion in the electricity, gas, steam and air conditioning sub-sector and a softer contraction in the mining and quarrying sub-sector.
On a monthly basis, industrial output dropped 1.2% in seasonally-adjusted terms in November, contrasting October’s 2.2% expansion. Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 7.4% in November, from October 's minus 7.1% reading.