Industrial production in Hungary increased 3.6 percent year-on-year in November of 2019, lower than a 6.1 percent rise in October and well below market expectations of a 6.5 percent jump. The majority of manufacturing subsectors contributed to the increase. Growth slackened in manufacture of transport equipment, representing the largest weight, while accelerated in manufacture of computer, electronic and optical products. Manufacture of food products, beverages and tobacco products rose at a rate above the industrial average. On a seasonally adjusted monthly basis, industrial production fell 1 percent. Industrial Production in Hungary averaged 4.71 percent from 1991 until 2019, reaching an all time high of 23.50 percent in May of 2000 and a record low of -28.99 percent in February of 2009.
Industrial Production in Hungary is expected to be 4.50 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 4.70 percent in 2020, according to our econometric models.