Hungary: Decline in industrial activity deepens in December
Latest reading: Industrial output sank 5.7% in year-on-year terms in December, which was a deterioration from November’s 3.1% decrease. December’s notable weakening was partly due to a steeper fall in manufacturing output. In contrast, mining and quarrying output gained steam.
On a seasonally adjusted monthly basis, factory output fell at a sharper rate of 1.8% in December (November: -1.1% mom), the worst result since March. Meanwhile, annual average variation of industrial production was steady at November’s 4.0% in December.