Hungary's industrial production plummeted 36.8 percent year-on-year in April of 2020, following a 5.6 percent decline in the previous month and more than an expected 21.6 percent slump, a preliminary estimate showed. That was the largest decline in factory activity since available records began in January of 1991, amid pandemic closures which prompted a sharp decline in vehicle output. Also, the production of computers, electronics, optical products as well as the manufacture of food, beverages and tobacco decreased but to a lesser extent. Meanwhile, output grew only for pharmaceuticals On a monthly basis, industrial production tumbled 30.5 percent, after falling 10.4 percent in the previous month. Considering the first four months of the year, industrial production slipped 9.2 percent over a year ago.
Industrial Production in Hungary averaged 4.52 percent from 1991 until 2020, reaching an all time high of 23.50 percent in May of 2000 and a record low of -36.80 percent in April of 2020. This page provides - Hungary Industrial Production - actual values, historical data, forecast, chart, statistics, economic calendar and news. Hungary Industrial Production - data, historical chart, forecasts and calendar of releases - was last updated on July of 2020.
Industrial Production in Hungary is expected to be -10.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Industrial Production in Hungary to stand at 4.20 in 12 months time. In the long-term, the Hungary Industrial Production is projected to trend around 4.60 percent in 2021 and 5.00 percent in 2022, according to our econometric models.