Hungary: Industry Rebounds As Supply Chain Issues Fade

Manufacturing PMI and industrial production trends

Source: HALPMI, HCSO, ING

During the first two months of 2021, industrial production dropped by 2.3% YoY and March is expected to be rather weak, we can easily see industry being a drag on growth during the first quarter or be neutral at best. This means we are facing a shrinking GDP figure again on a quarterly basis in the first quarter of this year. Afterwards, we see industry being one of the main force behind the rebound in GDP.

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Disclaimer: This publication has been prepared by the Economic and Financial Analysis Division of ING Bank N.V. (“ING”) solely for information purposes without regard to any ...

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