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...
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.
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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