Industrial Production Still Below Last Year's Level

In August 2020, the volume of industrial production declined in Hungary by 2.1% year-on-year, the country's Central Statistical Office (KSH) reports.

The degree of fall was 34.8 percentage points lesser than the nadir of April. Based on working-day adjusted data, production dropped by 0.2%.

The production decreased in the majority of the manufacturing subsections. However, the volume of production grew in the largest weight representing subsections: the manufacture of transport equipment rose to a greater extent, while the manufacture of computer, electronic and optical products as well as the manufacture of food products, beverages and tobacco products increased less.

In the first eight months of the year production was 11% lower than in the same period of the previous year.

Industrial output in August – according to seasonally and working-day adjusted indices – was 6.8% above the level of the previous month, and it grew by 56% compared to April.