Industrial Production Down 13.7% in December

Manufacturing

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The volume of industrial production in Hungary dropped in December 2023 by 13.7% year-on-year, based on working-day adjusted data, production declined by 8.7%.

Compared to crude data, the significant difference is due to the fact that there were two fewer working days in December 2023 than in December 2022, KSH notes.

Production volume fell in December 2023 in the great majority of the manufacturing subsections. Output grew in only three subsections, at the highest rate in the manufacture of coke, and refined petroleum products.

Industrial output– according to both seasonally and working-day adjusted indices – was 0.3% below the level of the previous month, according to KSH data.

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