BUDAPEST, May 8 (Xinhua) -- Hungary's industrial production showed no year-on-year growth in March, while working-day adjusted data revealed a 5.4 percent decline, the Central Statistical Office reported on Thursday. The discrepancy was attributed to two additional working days in March 2025 compared to the same month in 2024.
On a monthly basis, seasonally and working-day adjusted output edged up by just 0.1 percent. Despite this slight increase, most manufacturing subsectors recorded year-on-year declines. Notable exceptions included transport equipment, computer and electronic products, and food and beverage manufacturing, while electrical equipment production posted a drop.
Industrial output in the first quarter of 2025 fell by 4.4 percent compared to the same period last year.
Ministry for National Economy attributed the weak performance to external factors, pointing to subdued demand in major export markets - particularly Germany's prolonged economic slowdown. The ministry also criticized the European Union's economic strategy and its financial support for Ukraine.
Reaffirming its industrial policy goals, the government highlighted the expansion of its "100 new factories" program, now targeting 150 projects designed to boost investment and production capacity.
Janos Nagy, a macroeconomic analyst at Erste Bank, said the outlook remains mixed. He noted that although Germany began the year on a strong footing, confidence has since diminished amid escalating trade tensions. He warned that global uncertainty, fueled by tariff volatility and moratoriums, could delay investment decisions.
Nagy added that the anticipated economic benefits from ongoing capacity expansions may not be realized until 2026 - and even then, the outcome is becoming increasingly uncertain. Enditem
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