Hungarian Industrial Output Plunges in April as Recession Looms

Hungary’s industrial output unexpectedly plunged in April as mobile phone and television production continued to fall, boosting the chances that the economy will enter its second recession in four years.

Output dropped a workday-adjusted 3.1 percent from a year ago after a 0.6 percent increase in March, the Budapest-based statistics office said today based on preliminary data. The median estimate of 14 economists in a Bloomberg survey was for 0.5 percent growth. Production fell 2.4 percent from March.