Hungary Industry


Industrial output contracts more than expected

In January, industrial output fell a working-day adjusted 1.4% over the same month the previous year, marking the fourth consecutive contraction, according to preliminary data released by the statistical institute (KSH) on 7 March. The contraction, which exceeded the 0.8% drop expected by the market, followed the 3.4% decline recorded in December.

Compared to the previous month, however, industrial production rose a seasonally and working-day adjusted 2.9% in January, which contrasted the 1.6% decrease observed in December. Annual average industrial production remained unchanged at December's minus 1.3%.

FocusEconomics Consensus Forecast panellists see zero economic growth this year, which is unchanged from last month's projection. For next year, the panel expects growth to accelerate to 1.3%.


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Hungary Industry Chart

Hungary Industry January 2013

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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