In January 2021 the volume of industrial production in Hungary fell by 6.7% year-on-year. Based on working-day adjusted data, production declined by 2.8%, according to the Central Statistical Office. The largest weight carrying manufacture of transport equipment representing 25% of the manufacturing output was 28% lower than a year earlier. The global semiconductors shortage contributed […]
Few business sectors have been as hard hit globally by the coronavirus pandemic as tourism and Hungary is no exception to this sad reality. As tourism-related revenues have fallen off a cliff and government aid has been all but a trickle, the sector is struggling for survival. In the decade leading up to 2020, Hungary’s […]
Consumer prices were 3.1% higher on average in February 2021 than a year earlier, Hungary's Central Statistical Office reports. Relatively significant price rises were measured over the last 12 months for alcoholic beverages and tobacco, and price rises slightly exceeding the average for food and consumer durables. In one month, consumer prices increased by 0.7% on average, […]
In January 2021 the volume of industrial production fell by 6.7% year-on-year. Based on working-day adjusted data production declined by 2.8%, the Central Statistical Office reports. Compared to crude data, the significant difference is due to the fact that there were two less working days in January 2021 than in January 2020. Industrial output was […]
Defying all expectations, the Hungarian economy expanded in the fourth quarter of 2020. This gives a significant boost to the 2021 outlook. Expectations had not been particularly high for fourth-quarter economic activity in 2020. Nevertheless, Prime Minister Viktor Orbán suggested the economy probably contracted by 5.1% to 5.2% in 2020 as a whole, meaning borderline […]
Although, economic performance in Hungary grew by 1.1% compared to previous quarter but it decreased by 3.7% compared to a year earlier. The gross domestic product of Hungary went down by 3.7% according to raw data and by 4.3% according to seasonally and calendar adjusted and reconciled data in the 4th quarter of 2020 compared to […]
Construction output volume in December 2020 in Hungary decreased by 0.3% in one year, and by 3.1% compared to the previous month. The volume of construction output in December 2020, based on raw data published by the Central statistical Office this Monday, was 0.3% lower compared to the previous year. Output of the two main […]
In December 2020 the volume of industrial production in Hungary grew by 5.8% year-on-year. Based on working-day adjusted data, this figure was 1.1%. As for the whole of 2020, industrial production declined by 6.1% compared to the previous year. In December 2020: The volume of industrial production increased by 5.8% compared to the same period […]
Surplus on external trade in goods amounted to EUR 310 million in December, exports decreased by 18% and imports by 14% compared to November. Latest figures by the Central Statistical Office suggest that in EUR terms, the value of exports was 12% and that of imports 9.2% higher in December 2020 than in the same period of […]
Industrial producer prices as a whole were 6.8% higher in December 2020 than a year earlier. The rate of increase of prices was influenced primarily by the weakening of the forint against the Euro. According to a report by the Central Statistical Office published this Tuesday, domestic output prices were up by 2.6% and non-domestic output […]
Surplus on Hungary's external trade in goods amounted to EUR 836 million in November, exports grew by 0.4% and imports by 1.1% compared to October, the Central Statistical Office reported this Monday. In November 2020, the volume of exports increased by 12% and that of imports by 7.7% compared to the same period of the previous year. […]
Surplus on Hungary’s external trade in goods amounted to EUR 811 million in November, exports decreased by 0.5% and imports went up by 0.4% compared to October, according to the latest data published by the Central Statistical Office. In EUR terms, the value of exports was 6.9% and that of imports 1.9% higher in November […]
Industrial producer prices as a whole were 5.5% higher in November 2020 than a year earlier. The rate of increase of prices was influenced primarily by the weakening of the forint against the euro. As the Hungarian Central Statistical Office reports, domestic output prices were up by 1.3% and non-domestic output prices by 7.7%. Compared […]
“It will be crucial when the protection of the population against infection can be achieved. If this is achieved in the first half of 2021, we expect the fastest economic recovery in Hungary in the last hundred years.” Even if the last half of this statement made earlier this week by the Governor of the […]
GKI’s economic sentiment index rose sharply in December. It almost reached its October level again, which was much more favorable than the April low, but had been at a fairly low level since the beginning of summer. According to the survey conducted by GKI Economic Research Co. with the support of the EU, the improvement […]
