Hungary: Industrial production contracts sharply in September
November 8, 2016
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.