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HUNGARY: Industrial Output Shrinks 6.4% Y/Y for Worst Data This Year

HUNGARY
  • Hungary’s industrial output fell 6.4% y/y (Est: -5.9%) in July versus -3.7% in June, according to the Central Statistical Office. That marks the lowest for the series since December 2023. On a month-on-month basis, industrial production was unchanged compared to June at +0.5%.
  • Apart from the drop in car making, electronics also contributed to the decline, the statistics office said, while the food sector grew. The government has blamed the economy's underperformance on Hungary’s main export markets in western Europe, particularly Germany. Today’s disappointing data follows below-estimate retail sales figures posted Thursday.
  • Prime Minister Viktor Orban speaks at the Cernobbio Forum in Italy today, while Finance Minister Mihaly Varga and EU Affairs Minister Janos Boka will speak at an annual economics conference in eastern Hungary. EU Ministers Discuss Cohesion Policy in Budapest as part of Hungary’s rotating presidency.
CEEMEAEM BulletBulletGlobalEmerging Market NewsHungaryRegion
CEEMEAEM BulletBulletGlobalEmerging Market NewsHungaryRegion

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