Industrial production up 5.8% in December
In December 2020 the volume of industrial production grew by 5.8% year-on-year in Hungary, according to data released by the Central Statistical Office (KSH).
Based on working-day adjusted data production rose by 1.1%. Compared to raw data, the significant difference is due to the fact that there were two more working days in December 2020 than in December 2019. The decrease was 2.4% compared to the previous month according to seasonally and working-day adjusted data.
The majority of manufacturing subsections contributed to the increase. The rate of growth accelerated in the largest weight representing manufacture of transport equipment, at the same time the manufacture of food products, beverages and tobacco rose at a rate below the industrial average. The manufacture of computer, electronic and optical products declined.
In 2020 the volume of production was 6.1% lower compared to 2019.
Industrial output in December grew by 58% compared to the nadir of April.
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