Hungary Industrial Output Falls the Most in 6 months

Industrial production in Hungary increased 4.7% year-on-year in July 2026, easing from the 10.1% growth recorded in June. The slowdown was mainly reflected in manufacturing (4.9% vs 10.8% in June), wherein transport equipment manufacturing (18.0% vs 21.0%) and computer, electronic and optical products (19.7% vs 49.7%) eased but remained a key source of growth. In contrast, chemicals and chemical products accelerated (15.0% vs. 12.6%), as did coke and refined petroleum products (7.2% vs. 5.4%). Meanwhile, food, beverages and tobacco products remained in contraction (-2.3% vs. -1.5%), while electrical equipment deteriorated further (-6.0% vs. 1.8%). On a seasonally and working-day adjusted monthly basis, industrial output rose 1.7% in July, reversing a 1.4% decline in June. Over the first seven months of 2026, industrial production was 2.7% higher than in the same period of 2025.

Industrial production in Hungary grew by 4.7% year-on-year in July 2026, slowing from a 10.1% increase in the previous month, which was the strongest growth since September 2022. Compared with a year earlier, production fell across most manufacturing sub-sectors. Among the most important sub-sectors, vehicle manufacturing and computer, electronic and optical product manufacturing recorded growth, while electrical equipment and food, beverage and tobacco production declined. On a seasonally and working-day adjusted monthly basis, industrial output rose by 1.7% in July, recovering from a 1.3% fall in the preceding period. For the January to July period, industrial activity was 2.7% higher than in the corresponding period of the previous year.

Industrial production in Hungary soared 10.1% year-on-year in June 2026, confirming preliminary estimates and following a 0.4% decline in May. This marked the strongest growth since September 2022, as manufacturing output, which accounts for 96% of total industrial production, climbed 10.8% in June after stagnating in May. Production rebounded in transport equipment (21.0% vs -0.5% in May), electrical equipment (1.8% vs -2.6%), rubber and plastic products and other non-metallic mineral products (2.8% vs -3.2%), and basic metals and fabricated metal products, except machinery and equipment (8.1% vs -3.0%), while output of computer, electronic and optical products rose faster (49.7% vs 42.1%). Additionally, production accelerated in mining and quarrying (60.8% vs 43.7%), while electricity, gas, steam and air conditioning supply rebounded (0.3% vs -9.9%). On a seasonally and working-day adjusted monthly basis, industrial output fell 1.4% in June, reversing a 2.7% increase in May.