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Industrial production down 30.7% y.o.y. in May

In May 2020 the volume of industrial production in Hungary was 30.7% lower than a year before, with the coronavirus pandemic markedly affecting the period, according to the Central Statistical Office (KSH).

Based on working-day adjusted data, production declined by 27.6%.

The production volume decreased in every manufacturing subsection, according to KSH.

An outstanding fall was observed in the largest weight representing manufacture of transport equipment, while the manufacture of computer, electronic and optical products, as well as the manufacture of food products, beverages and tobacco products declined to a lesser degree.In the first five months of the year production was 13.8% lower than in the same period of the previous year.

On the other hand, industrial output in May was 15.6% higher than in April.