Industry in Hungary

Hungary Industry | Economic News & Forecasts

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

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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