Industry in Hungary

Hungary Industry | Economic News & Forecasts

Hungary - Industry

Second estimate confirms stronger growth in industrial production in August

According to revised data released by the Hungarian Central Statistical Office (KSH) on 12 October, industrial output rose a working-day adjusted 4.5% year-on-year in August. The print confirmed the preliminary estimate and came in above the 3.9% increase in July. August’s expansion came on the back of healthy growth in the manufacturing sector, which makes up over 90% of the index, with strongest increases recorded in the manufacturing of computer, electronic and optical products; as well as of rubber and plastics products, and other non-metallic mineral products. There was also a jump in production in the mining and quarrying sector, although it has significantly less influence on industrial output than the manufacturing sector. The energy sector, however, continued to contract. Meanwhile, in terms of sources of demand, domestic sales rose again at a solid pace, while exports sales declined.

In month-on-month, seasonally- and working-day adjusted terms, industrial production jumped 3.8%, contrasting July’s 1.9% drop.

In contrast, annual average growth in industrial production inched down from July’s 4.8% to 4.7% in August.

FocusEconomics Consensus Forecast panelists expect industrial production to grow 4.5% in 2019, which is unchanged from last month’s projection. For 2020, the panel expects industrial output to expand 3.9%.

Hungary - Industry Data

2013  2014  2015  2016  2017  
Industrial Production (annual variation in %)1.1  7.7  7.4  0.9  4.8  

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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

Bond Yield3.810.0 %Oct 18
Exchange Rate282.5-0.68 %Oct 18
Stock Market37,4850.04 %Oct 18

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