Sales: Retail Trade: Car Registration: Passenger Cars for Hungary
HUNSLRTCR03MLM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
8,305.00
Year-over-Year Change
-12.58%
Date Range
1/1/2003 - 11/1/2023
Summary
The 'Sales: Retail Trade: Car Registration: Passenger Cars for Hungary' series measures the number of new passenger car registrations in Hungary. This metric serves as an important indicator of consumer demand and economic activity in the Hungarian automotive industry.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
This economic indicator tracks new passenger car registrations in Hungary, providing insights into consumer spending and confidence. It is widely used by economists, policymakers, and industry analysts to assess the health of the Hungarian economy and make informed decisions.
Methodology
The data is collected by the Hungarian Central Statistical Office through a comprehensive system of vehicle registration records.
Historical Context
Trends in passenger car registration are closely monitored by the Hungarian government and the European Union for their implications on economic policy and market conditions.
Key Facts
- Hungary registered over 150,000 new passenger cars in 2021.
- Car registrations in Hungary decreased by 7.2% in 2020 due to the COVID-19 pandemic.
- The Hungarian automotive industry accounts for over 4% of the country's GDP.
FAQs
Q: What does this economic trend measure?
A: The 'Sales: Retail Trade: Car Registration: Passenger Cars for Hungary' series measures the number of new passenger car registrations in Hungary.
Q: Why is this trend relevant for users or analysts?
A: This metric serves as an important indicator of consumer demand and economic activity in the Hungarian automotive industry, providing insights into consumer spending and confidence.
Q: How is this data collected or calculated?
A: The data is collected by the Hungarian Central Statistical Office through a comprehensive system of vehicle registration records.
Q: How is this trend used in economic policy?
A: Trends in passenger car registration are closely monitored by the Hungarian government and the European Union for their implications on economic policy and market conditions.
Q: Are there update delays or limitations?
A: The data is published regularly by the Hungarian Central Statistical Office, with minimal update delays.
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Citation
U.S. Federal Reserve, Sales: Retail Trade: Car Registration: Passenger Cars for Hungary (HUNSLRTCR03MLM), retrieved from FRED.