Electrolux will discontinue production at its refrigeration products factory in Nyíregyháza, in northeast Hungary, from the beginning of 2024, the Swedish appliances maker said on Wednesday.
“The decision follows a review of production capacity needs including an investigation into the competitiveness of the Nyiregyhaza factory, which employs around 650 people,” Electrolux said. “Electrolux is exploring possibilities to divest the factory in Nyíregyháza and is committed to collaborating with relevant authorities and stakeholders to support its employees in the best possible way during this phase,” it added.
Hungary’s seasonally adjusted Purchasing Managers Index (PMI) fell to 55 points in January from 59.3 in December, Halpim, the organisation that compiles the index, said on Wednesday. PMI over 50 signals expansion in the manufacturing sector. Among the PMI sub-indices, the new orders index fell from the previous month but remained over 50 points.
Hungary posted trade deficit in November of 1.415 billion euros, up from 923 million in the previous month, the Central Statistical Office (KSH) said on Wednesday, presenting a second reading of data. The value of exports grew by an annual 19.1 percent to 13.272 billion euros, while those of imports rose by 31.2 percent to 14.687 billion.