Hungary: Industrial output posts quickest growth since July 2021 in August
According to a second estimate by the Statistical Institute, industrial output rose 9.3% compared to the same month of the previous year in August, which was above July’s 6.6% increase. The result marked the best reading since July 2021. August’s rise was partly driven by faster growth in manufacturing output. In addition, mining and quarrying production picked up pace.
On a seasonally adjusted monthly basis, industrial output rose at a more moderate pace of 0.1% in August (July: +1.1% mom). Meanwhile, annual average industrial production growth rose to 3.9% in August (July: +3.2%), signaling an improving trend in the industrial sector.