Hungary Industry December 2019


Hungary: Industrial production drops for the first time in nearly three years in December

February 6, 2020

Industrial production fell a working-day-adjusted 3.7% year-on-year in December, contrasting November’s 5.7% rise, according to a first estimate by the Hungarian Central Statistical Office. December’s reading largely reflected falling transport equipment production and was the first contraction since October 2016.

In seasonally- and working-day-adjusted terms, industrial output decreased 3.8% month-on-month in December, following the 1.0% contraction logged in November. Lastly, annual average growth in industrial production slowed from 6.3% in November to 5.4% in December.

FocusEconomics Consensus Forecast panelists expect industrial production to grow 3.6% in 2020, which is down 0.1 percentage points from last month’s projection. For 2021, the panel expects industrial output to grow 3.2%.

Author:, Economist

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Hungary Industry Chart

Hungary Industry December 2019

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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