2023.09.1308:24:00UTC+00Hungary Industrial Production Falls As Estimated

Hungary's industrial production decreased as initially expected in July, the latest figures from the Hungarian Central Statistical Office showed on Wednesday.

The volume of industrial production shrank 2.6 percent year-over-year in July, though slower than the 3.8 percent decrease in the prior month. Production has been falling since January.

That was in line with the flash data published on September 7.

Production dropped in the majority of the manufacturing subsections, while production volume grew in the largest weight-carrying manufacture of transport equipment and that of electrical equipment, the agency said.

On a monthly basis, industrial production rebounded 2.8 percent in July, following a 0.7 percent fall in the previous month, as estimated.

On a working-day-adjusted basis, industrial output contracted 2.5 percent annually in July.