Published: February 6, 2025 - Macro data from Hungary shows a clear deterioration in the situation in the last month of 2024
- Industrial production in Hungary fell by 5.3% year-on-year in December, marking the eighth consecutive month of decline and the largest drop since September.
- The expected decline for December was only 2.4%, indicating a significant shortfall in performance.
- Seasonally adjusted monthly production decreased by 1.8%, compared to a 1.6% decrease in November.
- Production in the automotive and electrical machinery sectors continued to decline, while there was an increase in the production of computer equipment, electronics, and optical products.
- Retail sales data for Hungary in December showed only a 0.1% year-on-year increase, the smallest rise since November 2023 after a year of continuous decline.
- In November 2024, retail sales had increased by 4.1%.
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Analyses of the article
SENTIMENT
The article highlights a significant decline in industrial production and a minimal increase in retail sales, reflecting unfavorable economic developments.
IMPACT
Short
The article discusses recent industrial production and retail sales data, indicating immediate economic challenges in Hungary.
RELEVANCE
High
The economic performance of Hungary is of great importance to a broad audience, including businesses and policymakers.
STAKEHOLDER
businesses
The focus on industrial production and retail sales directly impacts businesses operating in Hungary.