Hungary Industry September 2015

Hungary

Hungary: Industrial production contracts sharply in September

According to preliminary data released by the Statistical Institute (KSH) on 8 November, Hungarian industrial output in September swung from a revised working-day adjusted 3.2% expansion from the same month last year in August to a sharp 3.7% contraction. September’s print marks the worst reading in almost four years.

On a monthly basis, industrial production dropped a seasonally- and working-day adjusted 3.0% in September, which contrasted August’s 1.2% expansion. The overall trend continued to point downward as annual average growth in industrial production nosedived from 3.8% in August to 2.9% in September, marking the lowest reading in over two years.

FocusEconomics Consensus Forecast panelists expect industrial production to grow 3.2% in 2016, which is down 0.1 percentage points from last month’s projection. For 2017, the panel expects industrial output to expand 4.3%, which is unchanged from last month’s forecast.


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Hungary Industry Chart


Hungary Industry September 2016

Note: Year-on-year changes and annual average variation of industrial production index in %.
Source: Hungarian Central Statistics Office and FocusEconomics calculations.


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