Hungary: Industrial output rebounds in February
According to a second estimate by the Statistical Institute, industrial output expanded 1.0% year on year in February (January: -3.8% yoy). February’s print marked the best reading since December 2022. February’s reading was partly driven by a notable rebound in manufacturing output. In contrast, mining and quarrying output weakened.
Meanwhile, the trend improved, with the annual average variation of industrial production coming in at minus 4.3% in February, up from January’s minus 4.8% reading. On a monthly basis, industrial output increased 8.9% in seasonally adjusted terms in February, which was below January’s 9.8% expansion.