Hungarian Parliament building

Hungary Industry May 2020

Hungary: Second estimate confirms industrial output dropped again in May

According to a second estimate by the Statistical Institute, industrial output slid 27.6% in year-on-year terms in May, which was a smaller contraction than April’s 36.6% decrease and matched the first estimate.

The smaller contraction largely reflected more moderate contractions in manufacturing as well as in mining and quarrying production.

On a monthly basis, industrial production grew 15.6% in seasonally-adjusted terms in May, rebounding from April’s 30.5% fall and marked the best result on record. Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 3.1%, down from April’s minus 0.2%.

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