Industrial Performance Down due to European Economy, Says Ministry

Manufacturing

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The recovery of industry's performance is still being delayed by the weak performance of the European economy, especially Hungary's most important foreign market, the German economy, which is ailing due to the adverse effects of the war, the Ministry of National Economy said in a release on its website.

Commenting on the latest industrial results, the ministry quoted the preliminary data from the Central Statistical Office (KSH) on Friday.

It showed the volume of industrial production increased by 6.4% in April 2024 compared to the same period of the previous year, according to the raw data, while according to the work-day adjusted data, the volume of industrial production decreased by 2.4%.

Compared to the previous month, industrial performance decreased by 0.7%.

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