Hungary Industrial Output Contraction Confirmed at 2.7%

The industrial production in Hungary fell by 5.4% year-on-year in November 2025, deepening from a 2.7% drop in the previous month, and in line with preliminary estimates. This marked the steepest decline since August, as manufacturing output continued to fall (-5.7% vs -2.9% in October), particularly in coke and refined petroleum products (-35.6% vs -31.8%), chemicals and chemical products (-14.4% vs -13.3%), pharmaceuticals, medicinal chemical, and botanical products (-11.1% vs -6.4%), rubber and plastics products and other non-metallic mineral products (-10.3% vs -5.1%), and machinery and equipment (-16% vs 2%). Additionally, production tumbled in mining and quarrying (-11.8% vs 2%) and electricity, gas, steam and air conditioning supply (-2.1% vs 8.5%). On a seasonally adjusted monthly basis, industrial activity decreased by 2%, reversing from a 0.4% increase in October. Over the January-November period, industrial output was 3.5% lower than in the same period a year earlier.

Industrial production in Hungary dropped by 5.4% year-on-year in November 2025, slipping further from a 2.7% fall in October, and exceeded expectations of a 2.2% decline. Production volumes declined across the vast majority of manufacturing sub-sectors, with particularly notable decreases in vehicle and electrical equipment output. In contrast, certain sectors recorded gains, including the manufacture of computers, electronics, and optical products, as well as food, beverages, and tobacco products. On a seasonally and working-day adjusted basis, industrial output decreased 2% compared with the previous month, reversing a modest 0.4% increase in October. Over the first eleven months of the year, industrial production was 3.5% lower than in the same period last year.

Industrial production in Hungary dropped by 2.7% year-on-year in October 2025, reversing an over one-year high of 1.3% in September, and matching preliminary estimates. Production declined sharply in the manufacturing industry, falling 2.9% from a 1.5% increase in September. Meanwhile, output rebounded for mining and quarrying (2.0% vs -5.6%), and rose at a faster pace for electricity, gas, steam supply, air conditioning increased (8.5% vs 5.2%). On a seasonally adjusted monthly basis, industrial activity rose to 0.5%, slowing from 1.3% gain in the previous month. Considering the January to October period, industrial output was 3.3% lower compared with the same period a year earlier.