Hungary: Industrial activity contraction softens in August
Latest reading: Industrial output declined 3.5% year on year in August (July: -7.0% yoy). Looking at the details of the release, mining and quarrying and electricity, gas, steam and air conditioning output gained steam, while manufacturing production contracted at a softer rate.
On a monthly basis, factory output dropped 0.5% in seasonally adjusted terms in August, which was below July’s flat reading. Meanwhile, the trend improved, with the annual average variation of industrial production coming in at minus 4.0% in August, up from July’s minus 4.2% reading.