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Industrial production down 7.8% y.o.y. in June

In June 2020 the volume of industrial production in Hungary dropped by 7.8% year-on-year, according to data published by the Central Statistical Office (KSH).

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Based on working-day adjusted data, production fell by 12.2%.

KSH says that the economic effects caused by the coronavirus epidemic were still perceptible in June.

The production volume decreased in the majority of the manufacturing subsections. A significant fall was recorded in the largest weight representing the 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 slightly grew.

In the first half of the year, industrial production was 12.8% lower than in the first half of 2019.

Industrial output in June, according to seasonally and working-day adjusted indices was 17.1% above the level of the previous month.