Hungary Industrial Output Contraction Confirmed at 8.7%

Industrial production in Hungary fell by 1.5% year-on-year in February 2026, matching preliminary estimates and following a 2.5% drop in the previous month. Manufacturing production, which represents a dominant 97% weight within the industry, decreased (-1.0% vs -2.6% in January), particularly in the manufacture of coke, and refined petroleum products (-41.4% vs -32.9%). Meanwhile, mining and quarrying activity also remained in contraction, though the pace of decline eased (-9.1% vs -45.2% in January). In contrast, the electricity, gas, and steam segment declined sharply (-11.2% vs 6.7%). On a seasonally and working-day-adjusted basis, industrial output decreased by 1.8% compared with the previous month, reversing a 1.5% increase in January. Over the first two months of the year, industrial production was 2.0% lower than in the same period last year.

Industrial production in Hungary fell by 1.5% year-on-year in February 2026, easing from a 2.5% decline in the previous month. Production volumes declined across the vast majority of manufacturing subsectors, with particularly notable decreases in vehicles and food, beverages, and tobacco products. In contrast, certain sectors recorded growth, including the manufacture of computers, electronics, and optical products, as well as electrical equipment. On a seasonally and working-day-adjusted basis, industrial output decreased by 1.8% compared with the previous month, reversing a 1.5% increase in January. Over the first two months of the year, industrial production was 2.0% lower than in the same period last year.

Industrial output in Hungary declined by 2.5% year-on-year in January 2026, matching preliminary estimates and reversing a 1.8% increase in the previous month. Manufacturing production, which represents a dominant 93% weight within the industry, decreased (-2.6% vs 3.9% in December), due to lower output seen in the vast majority of its sub-sectors. Among the sub-sectors, coke, and refined petroleum products (-33% vs -34.7%), chemical and chemical products (-26.7% vs -12.1%), and rubber and plastics products, and other non-metallic mineral products (-12.2% vs 2.1%) posted the most notable declines. Additionally, mining output plunged by 45.2%, slipping further from an 18.4% drop in December. On the other hand, electricity, gas, steam, and air conditioning expanded (6.7% vs -20.8%). On a seasonally adjusted monthly basis, industrial activity rose by 1.5% in January, following an upwardly revised 1% gain in the preceding period.