Industry in Hungary
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
|Industrial Production (annual variation in %)||7.4||0.9||4.6||3.5||5.4|
5 years of economic forecasts for more than 30 economic indicators.
Hungary Industry Chart
Source: Hungarian Central Statistical Office (KSH) and FocusEconomics calculations.
|Bond Yield||2.08||0.0 %||Dec 31|
|Exchange Rate||295.1||-0.68 %||Jan 01|
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May 18, 2022
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.
May 12, 2022
Consumer prices rose 1.63% from the previous month in April, picking up from March's 0.98% increase.
April 28, 2022
The GKI economic sentiment index, a composite indicator, rose to plus 2.6 in April from minus 5.5 in March.
April 28, 2022
At its 26 April meeting, the Monetary Council of the Hungarian National Bank (MNB) decided to raise its base rate to 5.40% from 4.40%, marking the eleventh consecutive increase and the joint-largest hike since 2008.
April 14, 2022
According to the Statistical Institute, industrial output rose 4.5% compared to the same month a year earlier in February, which was a deterioration from January's 7.1% increase.