In May, industrial production increased a working-day adjusted 1.9% over the same month last year, according to revised data released by the statistical institute (KSH) on 13 July. The figure was unchanged from the preliminary estimate published on 6 June and contrasted the 3.1% contraction observed in April. In fact, the reading represents the fastest pace of growth in five months. The improvement was mainly the result of a rebound in the manufacturing sector. Nevertheless, mining and quarrying as well as electricity, gas, steam and air conditioning also fared better compared to April. Compared to the previous month, industrial output swung to a seasonally adjusted 3.2% expansion, which contrasted the 2.3% contraction observed in April. Meanwhile, the trend continues to point down, with annual average growth in working-day adjusted industrial production falling from 1.3% in April to 1.2% in May.
Industrial output unrevised in May
July 13, 2012
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Hungary Industry Chart
Note: Year-on-year changes and annual average variation of industrial production index in %.
Source: Hungarian Central Statistics Office and FocusEconomics calculations.
Hungary Economic News
October 11, 2016
In September, consumer prices rose 0.2% from the previous month, contrasting August’s 0.4% decrease.
October 7, 2016
According to preliminary data released by the Statistical Institute (KSH) on 7 October, industrial output in August rose a working-day adjusted 3.5% from the same month last year, rebounding from July’s 0.1% decrease and marking a four-month high. On a monthly basis, industrial production increased a seasonally- and working-day adjusted 1.6% in August, which followed July’s 0.3% decrease.
September 26, 2016
The GKI economic sentiment indicator advanced slightly from August’s minus 3.9 points, which was the lowest reading in over two years, to the still-low level of minus 3.6 points in September.
Hungary: Central Bank leaves base rate at 0.90%, continues easing monetary conditions by capping main deposit facility
September 20, 2016
The Central Bank of Hungary (NBH) held all rates constant at its 20 September monetary policy meeting, but continued easing monetary policy conditions by using unconventional monetary policy instruments.
September 9, 2016
In August, consumer prices fell 0.4% over the previous month, coming in below July’s softer 0.2% decrease.