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HUNGARY INDUSTRIAL OUTPUT DOWN 5.6% IN MARCH

 

Output of Hungary’s industrial sector declined by an annual 5.6% in March, the Central Statistical Office (KSH) said.
Working day-adjusted data showed a 10.0% annual drop for the same month.
The output of the automotive sector, normally an engine of industrial growth, dropped by 19.8% year-on-year as factories shut down to contain the spread of the novel coronavirus. Vehicle manufacturing fell by 19.8%, while food, beverages, and tobacco production was up by 12.7%.