Hungary: Industrial production decreased by 5.6% in March

In March 2020 the volume of industrial production declined by 5.6% year-on-year. Based on working-day adjusted data, production fell by 10.0%, Hungarian Central Statistical Office latest data show.

The volume of industrial production decreased by 5.6% compared to the same period of the previous year.

Industrial output in March – according to seasonally and working-day adjusted indices – was 10.4% below the level of the previous month.

The volume of industrial export dropped by 8.1% year-on-year. Transport equipment export, representing a 32% weight within export sales in manufacturing fell by 22%; the export in manufacture of computer, electronic and optical products accounting for a 17% weight declined by 1.8%.

Industrial domestic sales decreased by 0.8%, within it domestic sales in manufacturing were 1.9% lower compared to the same month of the previous year.

Within industry production declined by 5.7% in the decisive weight (95%) representing manufacturing, while it dropped by 27% in the small weight representing mining and quarrying. The output of energy industry (electricity, gas, steam and air-conditioning supply) rose by 5.4%.

Industrial production increased only in Pest region (10.1%), Southern Transdanubia (by 5.0%), and the Northern Great Plain (by 3.3%).

In the other regions volume decreases between 3.0% and 16.5% were recorded, the highest one in Western Transdanubia.