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Financial News: Hungary Industrial Production Decline As Estimated

Hungary Industrial Production Decline As Estimated

07/14/2020 - 06:55:00 (RTTNews)

(RTTNews) - Hungary's industrial production declined in May as initially estimated, final data from the Hungarian Central Statistical Office showed on Tuesday.

Industrial production declined a working-day adjusted 27.6 percent year-on-year in May, following a 36.6 percent decrease in April, as initially estimated.

The effects of the economic processes altered by the coronavirus epidemic were significant in May, the agency said.

An outstanding fall was observed in the manufacture of transport equipment, while the manufacture of computer, electronic and optical products, and food products, beverages and tobacco products declined to a lesser degree, the agency said.

On a non-adjusted basis, industrial production decreased 30.7 percent annually in May, as estimated.

On a seasonally adjusted basis, industrial production rose 15.6 percent monthly in May, after a 30.5 percent decrease in the prior month, as initially estimated.

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