Hungary Industry January 2020


Hungary: Industrial production rebounds at the start of 2020

March 6, 2020

Industrial production rose a working-day-adjusted 2.7% year-on-year in January, contrasting December’s 3.7% fall, according to a first estimate by the Hungarian Central Statistical Office. January’s reading largely reflected a significant rebound in the production of vehicles, as well as a pick-up in computer, electronic and optical goods output.

In seasonally- and working-day-adjusted terms, industrial output jumped 4.6% month-on-month in January, following the 3.8% decline logged in December. Lastly, annual average growth in industrial production edged down to 5.2% in January from 5.4% in December.

FocusEconomics Consensus Forecast panelists expect industrial production to grow 3.6% in 2020, which is unchanged from last month’s projection. For 2021, the panel expects industrial output to grow 3.4%.

Author:, Economist

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Hungary Industry Chart

Hungary Industry January 20 20

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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