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Industrial output in Hungary rose by an annual 5.9% in February, according to both unadjusted and working day-adjusted data, the Central Statistical Office (KSH) said in a first reading of data. In a month-on-month comparison, industrial output was up 1%, based on seasonally and working day-adjusted data.
Analysts interviewed by MTI said the Hungarian industry’s performance surpassed expectations in February, suggesting greater-than-expected resilience against a deteriorating outlook on export markets. Dávid Németh of K&H Bank attributed the recent acceleration to new capacities added in the sector and forecast industrial output growth between 4% and 5% in 2019, but closer to 5% in light of the strong start to the year. Gergely Suppan of Takarékbank attributed the acceleration in vehicle manufacturing to the fact that the Audi plant in Győr likely made up for the output lost due to the strike in January. Takarékbank’s analysts project 5.5% output growth in the sector this year compared with 3.6% in 2018.