In June, industrial output grew a paltry working-day adjusted 1.0% over the same month last year, which came in well below the revised 2.3% expansion tallied in May (previously reported: +2.6% year-on-year) and marked the slowest pace of expansion since December 2009. The reading undershot market expectations that had industrial output increasing 5.5%, and was the result of slower growth in manufacturing, which fell from 2.3% in May to 0.5% in June. A sharp slowdown in export sales was mostly responsible for the dismal performance of the industrial sector. In June, industrial exports decelerated for the fourth consecutive month, increasing just 1.8% in working-day adjusted terms (May: +5.7% yoy). Meanwhile, production for domestic use fell 4.4% (May: -4.9% yoy), remaining in negative territory for the ninth month in a row. A month-on-month comparison corroborates the deterioration suggested by the annual figures, as industrial production declined a seasonally and working-day adjusted 0.6% over the previous month. The print followed a 0.7% contraction recorded in May. Owing to the subdued reading, annual average growth in industrial output decreased from 10.6% in May to 9.5% in June.
Industrial production growth plummets in June
July 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.