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Financial News: Hungary Industrial Output Falls As Estimated

Hungary Industrial Output Falls As Estimated

02/13/2024 - 05:37:00 (RTTNews)

(RTTNews) - Hungary's industrial production decreased sharply as initially estimated in December, the latest figures from the Hungarian Central Statistical Office showed on Tuesday.

The volume of industrial production fell a working-day-adjusted 8.7 percent annually in December, faster than the 5.3 percent fall a month ago. That was in line with the flash report published on February 6.

Production dropped in the majority of the manufacturing subsections, the agency said.

The manufacture of electrical equipment fell the most by 23.0 percent annually in December, followed by a 17.0 percent slump in the manufacture of computer, electronic, and optical products.

Without adjustments, industrial output tumbled 13.7 percent yearly in December versus a 5.8 percent fall a month ago, as estimated.

During the whole year 2023, the volume of industrial production was 5.5 percent lower than in 2022.

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