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Slowdown of European Economies Poses risks for Hungary’s Industry

2023. december 19.

bne IntelliNews

The output of the automotive industry, Hungary's biggest manufacturing sector, rose 4.9% year on year in October, accelerating from a 1.2% increase in the previous month; however, the monthly data showed declines. The slowdown of European economies however poses risks for growth of Hungary’s export-oriented industry.

KSH confirmed that the headline figure, which showed output falling 3.2% (chart) in  the month (adjusted figures showed a 2.8% fall) slowed from a 7.3% decline in the previous month. The output contracted by a seasonally and workday-adjusted 0.6% month on month.

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