Industrial Production in Hungary Up by 2%

The volume of industrial production grew in December 2022 by 2.0% year-on-year in Hungary, the country’s Central Statistical Office reports.

Based on working-day adjusted data, production rose by 5.7%. Compared to crude data, the significant difference is due to the fact that there were two less working-days in December 2022 than in December 2021, the Office explains.

According to seasonally and working-day adjusted data industrial output was 3.8% higher than in November 2022.

In 2022 the volume of industrial production was 5.8% higher compared to 2021.

Output of the manufacture of transport equipment, having the largest weight, as well as that of electrical equipment increased significantly, at the same time the volume of production dropped in the majority the manufacturing subsections, among them it declined in the manufacture of computer, electronic and optical products, as well as in that of food products, beverages and tobacco products.

Industrial output in December – according to seasonally and working-day adjusted indices – was 3.8% above the level of the previous month.