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Decline in Industrial Output Slows in June

MTI-Hungary Today 2020.08.06.

Output of Hungary’s industrial sector fell by an annual 7.8 percent in June, continuing to show signs of recovery after falling by 30.9 percent in May and by 36.9 percent in April, when the country was under lockdown to contain the spread of the novel coronavirus, data released by the Central Statistical Office (KSH) on Thursday show.

Adjusted for workday effects, industrial output dropped by 12.2 percent in June.

KSH said output of “most segments of manufacturing” fell in June. Output of vehicle manufacturing, which has the greatest weight in the sector, “declined significantly”, but output of the computer, electronics and optical equipment segment as well as the food, drink and tobacco products segment “rose by a small degree”, it added.

Wage Growth in Hungary Under the Coronavirus Crisis? It is Possible, and Here's Why
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In May, gross wages in Hungary grew by 9.4% compared to last year, despite peaking unemployment and a long-lasting coronavirus-induced economic slowdown. However, reported increases in the average wage characterizing most sectors of the economy may be misleading. The analysis of the methodology used by the Central Statistical Bureau (KSH) might explain why. Analysis. Gross […]Continue reading

In a month-on-month comparison, industrial output rose by a seasonally- and workday-adjusted 17.1 percent in June.

For the period January-June, industrial output dropped 12.8 percent year-on-year.

Featured photo illustration by Attila Balázs/MTI