Hungarian Industrial Production Up by 1.9%

Despite the fact that manufacture of transport equipment that represents the largest weight dropped to a greater extent, the volume of industrial production grew in Hungary in February by 1.9% year-on-year.

Based on working-day adjusted data production rose by 3.9%. Industrial output was 4.8% higher, compared to the previous month, according to seasonally and working-day adjusted data, the Central Statistical Office reports.

The majority of the manufacturing subsections contributed to the growth. The manufacture of computer, electronic and optical products grew, at the same time the largest weight representing manufacture of transport equipment dropped to a greater extent, the manufacture of food products, beverages and tobacco declined in a lesser degree.

In the first two months of the year production was 2.3% lower than in the same period of the previous year.

Industrial output in February – according to seasonally and working-day adjusted indices – was 4.8% above the level of the previous month, and it rose by 67% compared to the nadir of April 2020, surpassing even the pre-pandemic peak.