Industrial production increased by 2%
Far exceeding expectations, industrial production increased by 2% in December, while adjusted for the effect of working days, production increased by 5.7%, as there were two fewer working days in December compared to December 2021. Industrial production increased by a total of 5.8% last year.
Based on seasonally and working day-adjusted data, industrial output increased significantly compared to the previous month, by 3.8%, correcting the decline of the previous months.
The stagnation of industrial production at the beginning of the fourth quarter was mainly caused by the reduction or stoppage of production in energy-intensive sectors as a result of the explosion of energy prices, while in November the problems related to oil refining also worsened the performance of the industry (which partly contributed to the fuel supply disruptions at the end of November and the beginning of December). , however, the production of the domestic oil refinery was subsequently restored.
By October 2020, industrial production had fully recovered from the crisis caused by the epidemic, however, further vigorous growth was hampered by the lack of chips, so industrial production fluctuated close to the pre-epidemic level, slightly exceeding it, from which it took a definite boost from the beginning of last year, and in September reached a new historical peaked. Compared to the 2015 average, industrial production increased by 27.8%, while it exceeded the 2010 average production level by 56.2%. The year before last, industrial production expanded by a total of 9.6%.
Related news
Industrial production decreased, food, beverage and tobacco production increased
In May, the volume of industrial production was 5.2 percent,…
Read more >KSH: the production of food, beverages and tobacco products expanded compared to a year earlier
In April 2024, the volume of industrial production exceeded a…
Read more >KSH: industrial production decreased by 10.4 percent
In March 2024, the volume of industrial production was 10.4%,…
Read more >Related news
Large companies are resistant to economic uncertainty
Restrained expectations characterize the domestic corporate sector for the next…
Read more >Company trend in 2024: a more positive half-year, but still a negative message
The lowest number of companies in the last five years…
Read more >The Hungarian Marketing Association for the supply of the profession
The Hungarian Marketing Association is actively working for the future…
Read more >