Industrial Production in Hungary Down 4.1% y.o.y. in March

Manufacturing

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The volume of industrial production declined in March 2023 by 4.1% year-on-year in Hungary, according to raw data by the Central Statistical Office (KSH). Based on working-day adjusted data production dropped by 4%.

The majority of the manufacturing subsections contributed to the production decline.

Out of the subsections having the largest weight the manufacture of transport equipment grew at the highest rate, but the manufacture of electrical equipment increased significantly, 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 three months of the year, production was 3.1% lower than in the same period of 2022.

Industrial output in March 2023 – according to seasonally and working-day adjusted indices – was 0.2% above the level of the previous month.

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