Hungary Industry August 2019

Hungary

Hungary: Industrial production growth moderates to a 10-month low in August

October 7, 2019

Industrial production grew a working-day-adjusted 2.7% year-on-year in August, down from July’s 8.7% expansion and marking the lowest reading since October 2018, according to a first estimate released by the Hungarian Central Statistical Office. August’s moderation largely reflected slower production growth in the manufacture of transport equipment and a decrease in the manufacture of food products, beverages and tobacco. Meanwhile, output slightly accelerated in the manufacture of computer, electronic and optical products.

In seasonally- and working-day-adjusted terms, industrial output fell 1.2% month-on-month in August, contrasting the 1.7% expansion logged in July. Lastly, annual average growth in industrial production decreased marginally from 5.3% in July to 5.2% in August.

FocusEconomics Consensus Forecast panelists expect industrial production to grow 5.1% 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%, which is unchanged from last month.


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Hungary Industry August 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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