Hungarian Parliament building

Hungary Industry November 2018

Hungary: Second estimate confirms slightly stronger industrial production growth in November

According to revised data released by the Hungarian Central Statistical Office (KSH) on 14 January, industrial output rose a working-day adjusted 3.5% year-on-year in November. The print confirmed the preliminary estimate and came in above the 3.3% increase in October. November’s expansion was due to healthy growth in the manufacturing sector, which makes up over 90% of the index. This more than offset a decline in energy production. Meanwhile, the mining and quarrying sector—which has significantly less influence on industrial output than the manufacturing sector—jumped by almost 40% in the month.

In terms of sub-sectors, muted growth was recorded in the manufacture of transport equipment, which represents more than one-quarter of manufacturing output; however, the manufacture of electrical equipment, as well as of rubber and plastics products recorded notable expansions. On the other hand, the manufacture of textiles, wearing apparel, leather and related products contracted again in the month. Meanwhile, in terms of sources of demand, domestic sales rose again at a strong pace, while exports expanded at a reduced pace.

In month-on-month, seasonally- and working-day adjusted terms, industrial production contracted 1.1%, contrasting October’s 2.0% jump.

Lastly, annual average growth in industrial production fell from October’s 3.9% to 3.8% in November, the weakest reading in over one year.

Hungary Industrial Production Forecast

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest