Industry Shows Vital Signs but Overall Outlook Worsens

2020. november 03.

Budapest Business Journal

Although August industrial output data is promising, the outlook for the Hungarian economy has deteriorated, according to analysts. It seems that the second wave of the pandemic will surely take its toll on Hungary.

Output of Hungary’s industrial sector fell by an annual 2.1% in August, following an 8.1% drop in July, the Central Statistical Office (KSH) said in its second estimate of data released on October 13. The August figures indicated a move closer to a recovery after falling by around 8% in the previous two months. The scale of those declines was an improvement from double-digit drops in April and May because of a pandemic lockdown.