Industry in Hungary

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Hungary - Industry

Industrial output growth eases in March

According to a second estimate by the Statistical Institute, industrial output grew 4.2% in year-on-year terms in March, which followed February's 4.8% increase. The slowdown was largely driven by a deterioration in manufacturing output growth. In addition, mining and quarrying output decelerated.

On a seasonally-adjusted monthly basis, factory output fell 0.1% in March (February: +1.9% mom), the worst result since August 2021. Meanwhile, annual average industrial production growth fell to 12.2% in March (February: +13.2%). This signals a worsening trend in the industrial sector.

FocusEconomics Consensus Forecast panelists project industrial output to increase 6.1% in 2022, which unchanged from last month’s projection. For 2023, the panel projects industrial output to expand 4.2%.

Hungary - Industry Data

2015   2016   2017   2018   2019  
Industrial Production (annual variation in %)7.4  0.9  4.6  3.5  5.4  

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Hungary Industry Chart

Hungary Industry
Note: Annual variation of industrial production in %.
Source: Hungarian Central Statistical Office (KSH) and FocusEconomics calculations.

Hungary Facts

Value Change Date
Bond Yield2.080.0 %Dec 31
Exchange Rate295.1-0.68 %Jan 01

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