Actual (Apr): -3.1%
Previous (Mar): -1.6%
The April industrial figures surprised negatively as they showed the sector fell, while a slight growth was expected. The car industry still provides some support, probably mostly thanks to the foreign demand. However, other important sectors decline, such as telecommunications equipment and electronic consumer goods.
The industrial PMI has been quite volatile in the recent months. The latest print is above the 50 mark again, but it may be less reliable than before. The still depressed local demand and the last disappointing data from the Eurozone show that it will be tough task for the Hungarian industry to recover anytime soon.