Hungarian Industry Output Plunges More Than Expected on Cars

Hungary’s industrial output dropped more than expected in June after a significant pullback in car production, the Budapest-based statistics office said.

Industrial output fell an annual workday-adjusted 4.9% in June, more than the 3% median drop seen in a Bloomberg survey of economists. Retail sales on the other hand increased an annual 3% the same month, according to a separate release on Wednesday.