Hungary Industrial Output Growth Eases As Estimated

(RTTNews) - Hungary's industrial production growth moderated sharply as estimated initially in July, the latest data from the Hungarian Central Statistical Office showed on Tuesday.

The volume of industrial production advanced an unadjusted 4.7 percent yearly in July, much slower than the 10.1 percent rebound in June, which was the strongest growth since September 2022.

Manufacture of transport equipment and computers, electronic, and optical products drove the overall expansion. However, production declined across the majority of other manufacturing subsections.

Manufacturing output, which represents 96 percent of total industrial production, grew at a weaker 4.9 percent annually compared with a 10.8 percent surge in June. Transport equipment manufacturing advanced 18.0 percent year-over-year, while electrical equipment manufacturing declined 6.0 percent.

Mining and quarrying, the small-weight-carrying sector, expanded 88.0 percent, and energy industry output was 3.8 percent higher.

Monthly, industrial production rebounded 1.7 percent in July, after a 1.3 percent fall in June.