Hungary's industrial production slumped 5.6 percent from a year earlier in March 2020, following a downwardly revised 3.8 percent growth in the previous month and compared to market expectations of a 4.5 percent contraction, a preliminary estimate showed. That was the largest decline in output since February 2013 amid the coronavirus pandemic, as a fall in car manufacturing and other segments of industry offset an increase in the production of food, beverage and tobacco products. On a monthly basis, industrial output plummeted 10.4 percent.
Industrial Production in Hungary averaged 4.65 percent from 1991 until 2020, 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. 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 May 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.