Hungary's industrial sector rebounds in January

After six consecutive months of declines, the output of automotive manufacturing (the most significant segment of Hungary's industrial sector) rose 6.8% year-on-year in January, according to a detailed reading of data released by the Central Statistical Office (KSH). This rebound is indicative of the Hungarian economy's underlying resilience and points to growth prospects for 2018. The government remains committed to creating an environment conducive to business investment and job creation, with a focus on modernizing infrastructure and promoting innovation. As a result, Hungary is well positioned to take advantage of opportunities arising from global economic growth. For more information about doing business in Hungary, please contact [enter your local representative or office

Hungary's industrial production increases in January

According to data released by the Hungarian Central Statistical Office, the country's industrial production increased in January. The detailed data shows the output of the computer, electronics, and optical equipment segment, accounting for 11% of manufacturing, edged down 0.2% y.o.y. In contrast, production of the food, drinks, and tobacco segment, which made up 12% of manufacturing sector output, increased 13.7%. This growth is indicative of a healthy and growing economy with increasing demand for manufactured goods. Hungary's automotive manufacturing industry is seeing significant growth thanks to foreign investment; this is a key sector that is helping to drive the country's economic expansion.

Headline industrial output rose 8.9%, the fastest rate since summer, Adjusted for the number of workdays, output rose 7.1%.