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Industrial Production Declines in April

Manufacturing

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The volume of industrial production dropped in April 2023 by 8.3% year-on-year in Hungary, according to data published by the Central Statistical Office (KSH).

Based on working-day adjusted data. production declined by 5.8% compared to the fourth month of 2022.

According to KSH, 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, industrial production in Hungary was 4.3% lower than in the same period of 2022.

Industrial output in April 2023 – according to seasonally and working-day adjusted indices – was 2.5% below the level of the previous month, KSH says.

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