Hungary Industrial Output Rises for 1st Time in Almost 2 Years

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.

Industrial production in Hungary declined by 2.5% year-on-year in January 2026, reversing from a 1.8% rise in the previous month, according to preliminary estimates. Production volumes decreased across most manufacturing subsectors. Among the most important sectors, vehicle manufacturing and the production of food, beverages, and tobacco products dropped, while the production of computers, electronics, optical products, and electrical equipment expanded. On a seasonally and working-day adjusted monthly basis, industrial output rose by 1.5% in January, following a 1.0% increase in the previous month.

Industrial production in Hungary rose by 1.8% year-on-year in December 2025, rebounding from an upwardly revised 5.5% decline in the previous month and matching preliminary estimates. This marked the fastest growth since April 2024, as manufacturing output picked up (3.9% vs -5.8% in November), particularly in electrical equipment (12.5% vs -11.3%), other manufacturing, and repair and installation of machinery and equipment (8.3% vs -4.4%), rubber and plastics products, and other non-metallic mineral products (2.1% vs -10.1%), and computer, electronic and optical products (38% vs 6.2%). Meanwhile, output continued to decline in mining and quarrying (-18.4% vs -11.8%), and electricity, gas, steam and air conditioning supply (-20.8% vs -1.8%). On a seasonally adjusted monthly basis, industrial activity increased by 0.9% in December, rebounding from a 2% fall in November. For full-year 2025, industrial output was 3.2% lower than in the previous year.