Industry in Hungary
Hungary - Industry
Industrial output grows at fastest pace since June 2021 in September
According to a second estimate by the Statistical Institute, industrial output rose 11.6% in year-on-year terms in September, which followed August's 9.1% increase. September's result marked the best reading since June 2021. The rise was partly driven by faster growth in manufacturing production. In contrast, mining and quarrying production lost steam.
On a monthly basis, industrial production rose 1.6% in seasonally adjusted terms in September, which was better than August’s 0.5% expansion and marking the best result since February. Meanwhile, the trend improved notably, with the annual average growth of industrial production coming in at 5.0% in September, up from August's 3.9%.
FocusEconomics Consensus Forecast panelists project industrial output to increase 3.4% in 2023, which is unchanged from last month’s projection. For 2024, the panel projects industrial output to expand 4.1%.
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|
Get a sample report showing our regional, country and commodities data and analysis.
Request a Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.
December 1, 2022
GDP growth moderated to 4.0% year on year (yoy) in the third quarter, from 6.5% in the second quarter.
November 30, 2022
The GKI economic sentiment index, a composite indicator, fell to minus 22.5 in November from minus 21.9 in October.
November 22, 2022
At its 22 November meeting, the Monetary Council of the Hungarian National Bank (MNB) left its base rate unchanged at 13.00% for the second consecutive meeting.
November 15, 2022
According to a second estimate by the Statistical Institute, industrial output rose 11.6% in year-on-year terms in September, which followed August's 9.1% increase.
November 15, 2022
According to a preliminary reading, the economy shrank 0.4% on a seasonally adjusted quarter-on-quarter basis in the third quarter, contrasting Q2’s 0.8% increase.