OEM shutdowns slow down rate of industrial growth in Hungary
Macro-economic analysts say the low performance of Hungary’s industry is only a temporary result of scheduled summer shutdowns at local OEMs, while industrial production and BMI prognoses predict growing tendencies for the future.
According to the latest report of the Hungarian Central Statistical Office (KSH), the volume of industrial production was down by 0.3 percent in June when compared to the same period in the previous year.
Gergely Suppan, an analyst of Takarékbank, says the main culprits behind the slow performance of the industry are mostly temporary and technical reasons, such as the scheduled maintenance shutdowns at local car manufacturers, as confidence indicators forecast further growth in the Hungarian industry.
