Hungary Industry July 2019

Hungary

Hungary: Industrial production expands at the fastest pace in 28 months in July

September 6, 2019

Industrial production jumped a working-day-adjusted 8.7% year-on-year in July, which marked an acceleration from June’s 4.1% upturn and the fastest expansion since March 2017, according to a first estimate released by the Hungarian Central Statistical Office. The latest reading reflected a marked increase in the manufacture of transport equipment, carrying the biggest weight in the manufacturing sector, which makes up over nine-tenths of the index. On the other hand, growth in the manufacture of computer, electronic and optical products, as well as that of food products, beverages and tobacco products softened.

In seasonally- and working-day-adjusted terms, industrial output rebounded from a 1.8% month-on-month contraction in June to a 1.7% rise in July. Lastly, annual average growth in industrial production climbed from 4.9% in June to 5.3% in July.

FocusEconomics Consensus Forecast panelists expect industrial production to grow 5.0% in 2019, which is up 0.1 percentage points from last month’s projection. For 2020, the panel expects industrial output to grow 4.0%.


Author:, Economist

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Hungary Industry July 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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