Industrial Production Down 4.6% y.o.y. in February

Manufacturing

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The volume of industrial production in Hungary declined in February 2023 by 4.6% year-on-year, according to both working-day adjusted and non-adjusted indices published by the Central Statistical Office (KSH).

The majority of the manufacturing subsections contributed to the production decline, KSH notes.

Out of the subsections having the largest weight the manufacture of electrical equipment grew at the highest rate, but the manufacture of transport equipment increased, too, at the same time the volume of production fell in the manufacture of computer, electronic and optical products, as well as in that of food products, beverages, and tobacco products.

In the first two months of the year, production was 2.4% lower than in the same period of 2022.

Industrial output in February – according to seasonally and working-day adjusted indices – was 0.3% above the level of January 2023.

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