Hungary: Labour and Equipment Shortages Hit Production

2021. december 07.

ING Think

Smaller sectors did not show strong enough growth in October to mitigate the drag from car and electronic manufacturing, as these are still suffering from spare parts shortages. We had a glimmer of hope after the latest German industrial production data surprised on the upside. But Hungarian industry posted only a mediocre 0.3% month-on-month growth rate in October, translating into a 2.7% yearly drop based on working-day adjusted data.