Hungary Industry January 2020

Hungary

Hungary: Industrial production rises in January

March 12, 2020

According to a second estimate by the Statistical Institute, industrial production increased a working-day-adjusted 2.7% year-on-year in January, matching the first estimate and contrasting December’s revised 3.6% fall (previously reported: -3.7% year-on-year). 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 revised 3.7% decline logged in December (previously reported: -3.8% month-on-month). 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 3.4% in 2020, which is down 0.2 percentage points from last month’s projection. For 2021, the panel expects industrial output to grow 3.5%.


Author:, Economist

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Hungary Industry January 20 20 0

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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