Hungary: Industrial output swings to expansion in February
Industrial output jumped 3.9% year-on-year in February (January: -2.8% yoy), and marked the strongest increase since November 2019, according to a second estimate.
A turnaround in the manufacturing sector as well as a faster expansion in the energy sector were behind the positive reading. On the other hand, the contraction in the mining sector sharpened.
On a monthly basis, industrial output soared 4.8% in seasonally-adjusted terms in February, following January’s 0.3% uptick. Meanwhile, the trend improved, with the annual average variation of industrial production coming in at minus 7.4% in February, from January’s minus 7.5% reading.