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55% of Hungarian companies at pre-crisis capacity by October

Analysis

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Only 55% of Hungarian companies had reached or exceeded their pre-crisis capacity utilization level by October last year, while 45% reported a decline, the Economic Research Institute (GVI) of the Hungarian Chamber of Commerce and Industry (MKIK) said this week, based on a survey of 3,142 companies, according to piacesprofit.hu. 

GVI said that before the lockdown measures were introduced on March 20, 2020, the average capacity utilization rate of Hungarian businesses was 81%, which fell to 61% in the spring. 

After the first wave of the pandemic, when the restrictions were lifted, the indicator increased first to 73%, then to 75% in October. In terms of sectors, other services registered the biggest decline, followed by trade, industry and construction. 

Among the most common crisis management strategies applied by the companies, cost-cutting stands out, followed by measures to improve liquidity, and stabilizing, improving and transforming market positions, MKIK-GVI said.

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