Hungary’s Industry Shrinks More Than Expected on Battery Woes

Hungary is struggling to turn its industrial sector around, data showed Friday, as weakness in battery production continues to pull back manufacturing.

Industrial output declined 2.6% in May compared to a year earlier, the Budapest-based statistics office said. That was substantially worse than any of the forecasts in a Bloomberg survey, where the median projection was for a 1.5% contraction. Month-on-month, production was 1.3% lower.