Industrial Production in Hungary
The Hungarian economy recorded an average industrial production growth rate of 2.7% 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 activity softens in April
Latest reading: Industrial output declined 2.3% in year-on-year terms in April, which followed March's 5.0% fall. The smaller drop was largely driven by softer contractions in manufacturing plus mining and quarrying production. On a monthly basis, factory output rose 1.5% in seasonally adjusted terms in April, which was better than March’s 0.1% uptick. Meanwhile, annual average of industrial production was 5.1% in April, matching March's figure.
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
-
Argentina: Industrial output growth loses pace in May but remains robust Latest reading: Industrial output rose 5.8% in year-on-year terms in May, which was a deterioration from April’s 8.7% increase but... -
Norway: Industrial activity dips in May Latest reading: Industrial production slid 0.5% month on month in seasonally adjusted terms in May (April: +2.2% mom s.a.), marking... -
Latvia: Industrial output growth reaches three-year high in May Latest reading: Industrial output rose 4.0% in year-on-year terms in May, which was above April’s 1.9% increase. The figure marked... -
Estonia: Industrial output dips in May Latest reading: Industrial production decreased 1.5% year on year in seasonally and calendar-adjusted terms in May (April: +1.9% yoy). May’s... -
Portugal: Industrial output growth improves in May 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... -
Croatia: Industrial output growth eases to six-month low in May Latest reading: Industrial output expanded 1.8% year on year in working-day adjusted terms in May (April: +6.5% yoy). The outturn... -
Thailand: Manufacturing activity growth stable in May Latest reading: Manufacturing output grew 1.9% compared to the same month a year earlier in May, matching April’s increase. Looking...