KSH: The production of food, beverages and tobacco products, which received 14 percent from the processing industry, was 10.4 percent lower than a year earlier
In December 2023, the volume of industrial production was 13.7 percent lower than a year earlier. Adjusted for the working day effect, production fell by 8.7 percent, the Central Statistical Office (KSH) confirmed in its second estimate released on Tuesday.
The significant difference compared to the raw data is caused by the fact that there were two fewer working days this month than in December 2022, they added.
Production fell in the vast majority of the manufacturing sub-sectors, while the output of only three sub-sectors increased.
Based on seasonally and working day-adjusted data, industrial output was 0.3 percent lower than in November 2023.
In 2023, the volume of industrial production was 5.5 percent lower than in 2022.
Last December, the volume of industrial exports was 12.0 percent lower than a year earlier. Exports of vehicle production, representing 33 percent of manufacturing export sales, decreased by 11.3 percent, and electrical equipment production, which accounted for 13 percent, decreased by 13.9 percent.
Related news
KSH: Gross average earnings were HUF 605,400 in February 2024, 14.0 percent higher than a year earlier
In February 2024, the gross average earnings of those employed…
Read more >The volume of beef imports increased by 24 percent
Based on KSH data, Hungary’s live cattle exports increased by…
Read more >The processing sales price of Trappist cheese has decreased
The producer price of raw milk, expressed in national currency,…
Read more >Related news
BH AgrárTrend Index: the outlook for the Hungarian food industry has stabilized
The assessment of the situation of the actors of the…
Read more >Shrink inflation is getting worse
Dishwashing detergent, sweets, sour cream, cottage cheese, kefir and camembert…
Read more >NGM: innovation means the future of the food industry, State Secretary Gergely Fábián handed over new developments
In the framework of the Food Supplier Development Program (ÉLIP…
Read more >