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

Manufacturing

Photo by Oscar Sweep / Shutterstock.com

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).

Photo by Oscar Sweep/Shutterstock.com

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.

ADVERTISEMENT

Climate change hurts economy, but creates new business oppor... Analysis

Climate change hurts economy, but creates new business oppor...

Lawmakers approve 2022 budget Parliament

Lawmakers approve 2022 budget

Dentons rehires banking and finance partner Appointments

Dentons rehires banking and finance partner

Budapest launches revamped coupon card for visitors City

Budapest launches revamped coupon card for visitors

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.