Hungary: Industrial activity records largest drop in 10 months in February
Latest reading: Industrial output dived 7.9% in year-on-year terms in February, which was a larger contraction than January’s 3.6% decrease. Looking at the details of the release, the contraction in manufacturing output widened in February, and mining and quarrying output swung to decline.
On a seasonally adjusted monthly basis, factory output fell 1.3% in February (January: +0.7% mom). Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 4.9%, down from January’s minus 4.1% reading.