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.
Author: Hanna Andersson, Economist