Based on January economic activity data, the Hungarian economy was doing well. However, since the outbreak of war in Ukraine, that’s all water under the bridge now.
The Hungarian Central Statistical Office has released its latest set of data about retail sales (3 March) and industry (4 March). The big picture painted by these figures was really promising, but that was before the Russia-Ukraine war began. Let’s first go through what happened in January, then we must talk about the harsh reality of the present situation.