Unpleasant surprise: Hungary’s industrial output continues to fall
Output of Hungary’s industrial sector fell by an annual 8.2 percent in June, the Central Statistical Office (KSH) said on Wednesday.
Adjusted for the number of working days, output was down by 3.7 percent. There were two fewer work days in June 2024 than in the same month a year before.
Month on month, output fell a seasonally and working day-adjusted 0.5 percent.
Output fell in most manufacturing sector branches, with the exception of chemical material and product production and wood processing and paper product production, KSH said.
Between January and June, industrial output declined by 3.3 percent year on year.
Commenting on the data, the state secretary for industry policy and technology said that the full recovery of industry was hobbled by war-related ailments of Western industries leading to weak demand. Gergely Fábián said war-related expenses such as the military industry and aid funding were syphoning resources from economic development, adding that the war was also creating uncertainty, holding back investments.
Meanwhile, the foundations of Hungarian industry remained strong, as mirrored in the growth of real wages and the retail sector for 9 and 6 consecutive months, respectively, Fábián said in a statement. To bolster industrial output, the government is boosting domestic production with measures such as the Baross Gábor Re-Industrialisation Programme, with a 1,200 billion forint (EUR 3bn) credit line and loan support for SMEs, he said.
Read also:
Today we see political and economic warfare being used to destroy the core capabilities of nations around the world by those with the goal of a One World Government. We also see wars, DISEASES(Covid-19 and variants), terrorism, famines, Iran’s and North Korea’s nuclear weapons programs, Putin’s nuclear threats, Russia’s war in the Ukraine, the war against Hamas as well as BDS and religious problems virtually everywhere. We have seen WEATHER GONE MAD as well as too many MAJOR EARTHQUAKES, massive WILD FIRES and volcanic eruptions taking place at an alarming rate all over the world. We also see a fast rise in Globalistic actions against the free will of people and obvious attacks against the economies of the nations of the world in order to make the people desperate enough to accept a new world government and monetary system. I believe we also see that the world is pushing Israel to bring an end of the war against Hamas despite the fact that Hamas has not given up and will rebuild and attack Israel again if it survives. It is against God’s word to attempt to push Israel into giving up full ownership of all of it’s land. God warns the world not to divide His land. It’s time to understand that the Bible has been pointing to these events for thousands of years. We are living in the end times! The tribulation period is coming and you need to know where you stand with God. Don’t guess about it, KNOW FOR SURE! Have you accepted the forgiveness of sins that Jesus Christ offers? People need to pray to Jesus and confess that they are a sinner and want to turn away from sin and do Gods will and then accept Jesus gift of forgiveness of their sins and make Him their Lord and savior. All they need to do is pray in the name of God’s son Jesus Christ. Jesus Christ died in your place in order to offer you forgiveness of sins and salvation! He rose again from the grave and is returning soon. Time is running out!