Industrial production decreased, food, beverage and tobacco production increased
In May, the volume of industrial production was 5.2 percent, or 4.9 percent less than a year earlier, adjusted for the working day effect. As of April 2024, industrial output decreased by 1.1 percent based on seasonally and working day-adjusted data, the Central Statistics Office (KSH) reported on Friday based on its first estimate.
In the majority of the manufacturing subsectors, the volume of production decreased compared to the same month of the previous year. Among the most weighty sub-sectors, there was a decline in vehicle manufacturing, electrical equipment manufacturing, and computer, electronic, and optical product manufacturing, while food, beverage, and tobacco manufacturing increased.
Industrial production in the first five months of the year was 2.4 percent lower than in the same period of 2023.
The detailed data on industrial production for May will be published on July 12 by the KSH based on its second estimate.
Related news
In the OECD, inflation slowed significantly in August
Inflation in the countries belonging to the Organization for Economic…
Read more >BMI: Slower contraction in September
The seasonally adjusted September value of the Purchasing Manager Index…
Read more >KSH: in July, the product foreign trade surplus was 167 million euros
In July, the volume of exports increased by 4.9 percent…
Read more >Related news
FAO: The time has come to make the right to a healthy, nutritious and affordable diet a reality
The theme of this year’s World Food Day is “The…
Read more >The size of the production area in the domestic tobacco sector has stabilized
The actors of the sector threw themselves into this year’s…
Read more >Online subscription loyalty schemes are about to take off in Hungary
According to a representative survey by PwC (earlier GKID) for…
Read more >