Hungary: Industrial production jumps on low base effect in March
May 12, 2021
Industrial output soared 16.2% year-on-year in March (February: +4.0% yoy) benefiting from an extremely low base effect as March 2020 was the first month of the Covid-19 pandemic, according to a preliminary estimate.
On a monthly basis, industrial output rose 0.4% in seasonally-adjusted terms in March, following February’s 4.9% jump which had marked the strongest reading in 16 months. Meanwhile, the trend pointed up, with the annual average variation of industrial production coming in at minus 5.2% in March, from February's minus 7.3% reading.