In August, industrial production contracted a working-day adjusted 0.4% over the same month last year, which contrasted both the 2.7% increase recorded in July and market expectations, which had industrial production expanding 1.3%. The decline reflects a contraction in the manufacturing sector, which offset improvements in mining and quarrying as well as in electricity, gas, steam and air conditioning supply. Although industrial exports continue to be the key driver, they appear to be running out of steam. In August, industrial exports grew a working-day adjusted 3.5%, which came in below the 5.3% observed in July. Meanwhile, domestic sales contracted for the eleventh month in a row, dropping 8.0% (July: -7.3% year-on-year). A month-on-month comparison corroborates the deterioration suggested by the annual figures, as industrial output declined a seasonally and working-day adjusted 1.3% over the previous month, which contrasted the 0.8% expansion recorded in July. The trend continues to point downwards, with annual average growth in industrial output falling from 8.7% in July to 7.3 % in August.
Industrial sector runs out of steam
October 14, 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.