Industrial production Down in Hungary by 4,6%

The volume of industrial production declined in February 2023 by 4.6% year-on-year in Hungary, the Central Statistical Office reports.

The working day adjusted index is equal to the non-adjusted one. According to seasonally and working-day adjusted data industrial output was 0.3% higher than in January 2023.

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

In the first two months of the year production was 2.4% lower than in the same period of 2022.

Industrial output in February – according to seasonally and working-day adjusted indices – was 0.3% above the level of the previous month.