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Financial News: Hungary Industrial Production Falls As Estimated

Hungary Industrial Production Falls As Estimated

06/12/2020 - 06:27:00 (RTTNews)

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

Industrial production declined a working-day adjusted 36.6 percent year-on-year in April, following a 10.0 percent decrease in March, as estimated.

The economic effects caused by the Covid-19 were significant in this period, the agency said.

On a non-adjusted basis, industrial production decreased 36.8 percent annually in April, following a 5.6 percent fall in the preceding month. In the initial estimate, output fell 36.4 percent.

An outstanding fall was observed in the manufacture of transport equipment, and the manufacture of food products, beverages and tobacco products declined to a lesser degree. Meanwhile, manufacturing of pharmaceutical products and pharmaceutical preparations grew, the agency said.

On a seasonally adjusted basis, industrial production fell 30.5 percent monthly in April, following a 10.4 percent decrease in the prior month, as initially estimated.

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