2020.07.0711:23:00UTC+00Hungary Industrial Production Decline Slows In May

Hungary's industrial production declined for the third consecutive month in May, but at a slower pace, data from the Hungarian Central Statistical Office showed on Tuesday.

Industrial production declined a working-day adjusted 27.6 percent year-on-year in May, following a 36.6 percent decrease in April.

The effects of the economic processes altered by the coronavirus epidemic were significant in this period, the agency said.

On a non-adjusted basis, industrial production decreased 30.7 percent annually in May, following a 36.8 percent fall in the preceding month.

An outstanding fall was observed in the manufacture of transport equipment, while the manufacture of computer, electronic and optical products, and food products, beverages and tobacco products declined to a lesser degree, the agency said.

On a seasonally adjusted basis, industrial production rose 15.6 percent monthly in May, after 30.5 percent decrease in the prior month.