Hungary Industry October 2020

Hungary

Hungary: Industrial output rebounds in October

December 4, 2020

Industrial output expanded 2.7% year-on-year in October (September: -1.0% yoy), according to a preliminary estimate.

On a monthly basis, industrial output grew 2.8% in seasonally-adjusted terms in October, following September’s softer 2.3% expansion. Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 7.1% in October, from September's minus 6.8% 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 October 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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