Hungary's Decline In Industrial Output Slows Further In June
- 7 Aug 2020 8:11 AM
- Hungary Matters
Output of Hungary’s industrial sector fell by an annual 7.8% in June, continuing to show signs of recovery after falling by 30.9% in May and by 36.9% in April, when the country was under lockdown to contain the spread of the novel coronavirus, data released by the Central Statistical Office (KSH) show.
Adjusted for workday effects, industrial output dropped by 12.2% in June. KSH said output of “most segments of manufacturing” fell in June.
Output of vehicle manufacturing, which has the greatest weight in the sector, “declined significantly”, but output of the computer, electronics and optical equipment segment as well as the food, drink and tobacco products segment “rose by a small degree”, it added.
In a month-on-month comparison, industrial output rose by a seasonally and workday-adjusted 17.1% in June. For the period January-June, industrial output dropped 12.8% year-on-year.
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