Plummet continues: Hungary’s industrial output down again

Hungarian industrial output in November fell by an annual 5.8 percent, while working day-adjusted output was 5.6 percent lower, the Central Statistical Office (KSH) said in a second estimate on Friday.

Based on seasonally and working day-adjusted data, industrial output was 2.3 percent lower than in October 2023. In the January-November period, output dropped by 4.8pc year on year.

Output of the automotive industry, Hungary’s biggest manufacturing sector, slipped by an annual 1.7 percent in November.

The detailed data show output of the electrical equipment segment, which made up 11 percent of manufacturing output, dropped by 12.2 percent.

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