Latest reading: In annual terms, industrial production was up 2.6% in July, following a 5.0% rise in the prior month....
Industrial Production in Hungary
The Hungarian economy recorded an average industrial production growth rate of 2.7% in the decade to 2024. In 2024, industrial production growth was -4.1%. For more industry information, visit our dedicated page.
Hungary Industry Chart
Note: This chart displays Industrial Production (annual variation in %) for Hungary from 2024 to 2022.
Source: Macrobond.
Hungary Industry Data
| 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|
| Industrial Production (ann. var. %) | -6.8 | 9.2 | 5.9 | -4.7 | -4.2 |
Industrial production falls at softer clip in July
Latest reading: Industrial production was down 0.9% on a year-on-year basis in July, following a 4.9% drop in the prior month. Relative to the prior month's figures, manufacturing contracted less in July then in June (-0.6% vs -5.2% in June). In contrast, readings softened for mining and quarrying (-8.4% vs +5.1% in June) and electricity, gas, steam and air conditioning (-6.0% vs +0.7% in June). In seasonally adjusted month-on-month terms, industrial production rose 2.1% in July, following a 1.2% fall in the previous month.
Consensus Forecasts and Projections for the next ten years
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Hungarian industry projections for the next ten years from a panel of 15 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable industry forecast available for Hungarian industry.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Hungarian industry projections.
Want to get access to the full dataset of Hungarian industry forecasts? Send an email to info@focus-economics.com.
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