Bad news from Hungary’s economy: construction, industry fall

Output of Hungary’s construction sector dropped by 3.8 percent year on year in June, the Central Statistical Office (KSH) said on Tuesday. Meanwhile, industrial output in Hungary fell by an annual 3.8 percent in June after dropping 6.7 percent in the previous month, the Central Statistical Office (KSH) said on Tuesday. 

Output of the buildings segment rose by 7.5 percent, while civil engineering output dropped by 20.5 percent. In absolute terms, construction sector output was worth 629.8 billion forints in June. Month on month, output fell by 1.4 percent, adjusted for seasonal and working-day effects. Construction output fell by 7 percent in January-June from the base period.

Hungary industrial output in June falls 3.8 pc

Industrial output in Hungary fell by an annual 3.8 percent in June after dropping 6.7 percent in the previous month, the Central Statistical Office (KSH) said on Tuesday. Output dropped by 6.1 percent, adjusted for the number of working days. Output of the automotive industry, Hungary’s biggest manufacturing sector, rose by 19.1 percent year on year, picking up from 10.8 percent growth in the previous month, the detailed KSH data shows.

The electrical equipment segment grew by 16.9 percent, while output of the food, drinks and tobacco segment slipped by 11.1 percent. Month on month, output fell by 0.9 percent, according to seasonally and working day-adjusted data. In the January-June period, output dropped by an annual 4.8 percent.

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