Industrial production increased in September a working-day adjusted 3.0% over the same month last year, which contrasted the 0.4% contraction recorded in August. The print marked the fastest pace since April and overshot market expectations that had industrial output rising only 0.1%. The improvement was mainly driven by the manufacturing sector, which swung from a 1.3% contraction in August to a 3.5% increase in September. In addition, mining and quarrying maintained the pace and expanded a strong 16.3% (August: +15.4% year-on-year). That said, industrial exports remained the backbone of the manufacturing sector by expanding a working-day adjusted 4.1%. In contrast, sales in the domestic market contracted for the twelfth consecutive month, dropping 7.1%. A month-on-month comparison corroborates the pick-up suggested by the annual figures, as industrial output increased a seasonally and working-day adjusted 3.9% over the previous month, which marked the fastest pace since January and contrasted the 1.2% contraction recorded in August. The trend continues to point downwards, with annual average growth in industrial output falling from 7.4% in August to 6.6% in September.
Industrial production rises in September
November 8, 2011
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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.