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INDUSTRIAL OUTPUT DROPS BY 5.6% IN MARCH ON COVID-19 SHUTDOWNS

 

Output of Hungary’s industrial sector fell by an annual 5.6% in March as many factories shut down to contain the spread of the coronavirus, data released by the Central Statistical Office (KSH) show. KSH said the decline in the automotive sector was “significant”, while output of the computer, electronics and optical equipment segment “rose a little” and the pace of growth in the food, drink and tobacco segment accelerated. Adjusted for the number of work days, output fell by 10.0%.
In a month-on-month comparison, output dropped by 10.4%, adjusted for work days and seasonal effects. In January-March, industrial output edged up 0.1% year-on-year.