Latest reading: Industrial output rose 1.9% in month-on-month seasonally adjusted terms in May, which was above April’s 1.3% increase. May’s...
Industrial Production in Hungary
The Hungarian economy recorded an average industrial production growth rate of 7.1% 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 | -4.1 |
Decline in industrial output softens in March
Latest reading: According to a second estimate by the Statistical Institute, industrial output shrank 5.1% in seasonally and calendar-adjusted year-on-year terms in March (February: -8.0% yoy). The softer drop was driven by a milder fall in manufacturing production. Conversely, mining and quarrying output weakened at the fastest pace since December 2023. That said, March saw industrial production rise 0.1% in seasonally and calendar-adjusted month-on-month terms, improving from February’s 1.2% fall. Still, the trend pointed down, with the annual average variation of industrial production coming in at minus 5.1%, deteriorating from February's minus 4.9% reading.
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 14 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.
Latest Global Industrial production News
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Poland: Industrial output improves in May Latest reading: Industrial production increased 3.9% year on year in May (April: +1.2% yoy), marking the best reading since October... -
Taiwan: Industrial output growth remains buoyant in May Latest reading: Industrial production grew 22.6% year on year in May (April: +23.7% yoy), well above market expectations, driven chiefly... -
Lithuania: Industrial output growth eases in May Latest reading: Industrial output increased 1.9% compared to the same month of the previous year in May, which followed April’s...