Indicators

Hungary’s Economy Contracts Unexpectedly on EV Weakness

GDP falls 0.2% from previous quarter, preliminary data show
Hungary has become heavily reliant on batteries under Orban

An electric vehicle motor assembly line in Gyor, Hungary.Photographer: Akos Stiller/Bloomberg

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By Veronika Gulyas and Marton Kasnyik

July 30, 2024 at 6:37 AM UTC

Updated on

July 30, 2024 at 7:19 AM UTC

This article is for subscribers only.

Hungary’s economy unexpectedly contracted in the second quarter as it confronts lackluster demand for electric car batteries in the automotive industry.

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