Hungarian Parliament building

Hungary Industry October 2020

Hungary: Industrial output rebounds in October

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

Looking at the details of the release, October’s rebound was due to a turnaround in the manufacturing sub-sector as well as to a faster expansion in the electricity, gas, steam and air conditioning sub-sector, which more than offset a sharper contraction in the mining and quarrying sub-sector.

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.

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