Hungary: Decline in industrial activity softens in October
Latest reading: Industrial output dropped 3.5% in year-on-year terms in October, which was a less pronounced contraction than September’s 6.2% decrease. The smaller fall was largely driven by a less notable contraction in manufacturing production. In contrast, mining and quarrying output growth weakened.
On a seasonally adjusted monthly basis, factory output rebounded, rising 2.0% in October (September: -0.6% mom s.a.), the best result since February. Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 4.0%, down from September’s minus 3.9%.