Hungarian industry faced another blow

“The weak performance of industry could be expected based on previously published GDP data. Industry has been facing difficulties for a long time. While production volumes stagnated around the 2021 level in 2023, a gradually decreasing trend has been visible since the beginning of 2024. Unfortunately, the June data did not break this process either,”

– said Dávid Németh, chief analyst at K&H.

According to the expert, there are so many positives that can be mentioned, because there was growth in some sub-sectors in June, such as food, beverage and tobacco products; computer, electronic and optical devices; and electrical equipment manufacturing. The latter is important because this sub-sector includes battery plants, which have been producing negative results for a long time. Vehicle production, which plays a prominent role within the industry, declined again in June after increasing in May, thus shrinking in four of the first six months of the year and growing in only two.