Hungary Industrial Production Shrinks 2.6%

(RTTNews) - Hungary's industrial output continued to decline in May, preliminary figures from the Hungarian Central Statistical Office showed on Friday.

The volume of industrial production fell a working-day-adjusted 2.6 percent annually in May, following a 2.3 percent decrease a month ago. Prices have been falling since March 2024.

Among subsectors, the largest negative contribution came from the electrical equipment segment, as well as in the manufacture of food products, beverages, and tobacco products. Meanwhile, the manufacture of transport equipment, as well as the manufacture of computer, electronic, and optical products, expanded.

On an unadjusted basis, industrial output also fell 2.6 percent versus a 5.0 percent plunge in the prior month.

On a monthly basis, industrial production dropped 1.3 percent, reversing a 1.5 percent growth in April.