Industrial Production Down in Hungary by 8.3%

The volume of industrial production dropped in April 2023 by 8.3% year-on-year. Based on working-day adjusted data production declined by 5.8%, MTI quoted figures reported by the Central Statistical Office on Wednesday. Transport and electrical equipment production increased.

According to seasonally and working-day adjusted data, industrial output was 2.5% lower than in March 2023.

Production volume fell in the great majority of the manufacturing subsections. Output increased in two subsections only: in the manufacture of transport equipment, having the largest weight, as well as in that of electrical equipment.

In the first four months of the year production was 4.3% lower than in the same period of 2022.

Industrial output in April – according to seasonally and working-day adjusted indices – was 2.5% below the level of the previous month.