Financial News: Hungary Industrial Production Falls 0.2%, As Estimated

Hungary Industrial Production Falls 0.2%, As Estimated

(RTTNews) - Hungary's industrial production decreased for the first time in fifteen months in January as initially estimated, the latest figures from the Hungarian Central Statistical Office showed on Tuesday.

The volume of industrial production dropped 0.2 percent yearly in January, reversing a 2.0 percent growth in December. That was in line with the flash data published on March 7.

The output of the energy sector was 19.5 percent lower at the start of the year, while manufacturing production advanced by only 1.2 percent.

The manufacture of rubber and plastics products, and other non-metallic mineral products fell 13.5 percent annually in January, followed by food products, beverages and tobacco products with a 12.2 percent plunge.

On a monthly basis, industrial production fell seasonally, and working-days adjusted by 5.1 percent in January, in contrast to a 3.6 percent drop in the preceding month, as initially estimated.

On an adjusted basis, industrial production declined 3.2 percent in January compared to last year.

Separate official data showed that the construction output contracted 3.6 percent annually and by 5.0 percent monthly in January.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2023 RTTNews.com. All Rights Reserved

Market News provided by RTTNews