Facts & Statistics

Industrial production grew by 1.9 percent YoY in February

After a 6.7 percent decline in January, production in Hungary was higher than a year earlier.

Excluding the working day effect, production increased by 3.9 percent, the Central Statistical Office (CSO) said on Thursday, based on its first estimate.

Seasonally and working-day adjusted industrial output rose 4.8 percent from the previous month, up 67 percent from its low in April last year, surpassing its pre-epidemic peak.

The majority of manufacturing sub-sectors contributed to the growth. Production of computer, electronics and optical products rose again after an 8.6 percent rise in January. At the same time, vehicle production showed a larger decline after a 27.5 percent drop in January. Production of food, beverages and tobacco declined to a lesser extent, after a 4.9 percent contraction in January.

Despite the positive year-over-year figure for February, for the first two months of the year, industrial production was 2.3 percent lower than the same period last year.

Detailed data on industrial production in February will be published by the CSO next Wednesday, April 14, based on its second estimate.

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