Decreasing Industrial Production in Hungary

The volume of industrial production declined in Hungary in January 2023 by 0.2% year-on-year. Based on working-day adjusted data, production dropped by 3.2%, according to a report published this Tuesday by the Central Statistical Office (KSH).

According to seasonally and working-day adjusted data industrial output was 5.1% lower than in December 2022.

Out of the subsections having the largest weight, the manufacture of electrical equipment grew at the highest rate, but the manufacture of transport equipment and the manufacture of computer, electronic and optical products increased as well, at the same time the volume of production fell in the manufacture of food products, beverages and tobacco products.

Industrial output in January – according to seasonally and working-day adjusted indices – was 5.1% below the level of the previous month.