In March, industrial production rose a working day adjusted 9.2% over the same month last year. The figure came in well below both the 14.6% expansion observed in February (previously reported: +14.3% year-on-year) and market expectations, which had production increasing a more robust 12.0%. All sectors decelerated over the previous month, the most important being manufacturing, which slowed from a 15.8% increase in February to a 10.0% expansion in March. Growth in mining and quarrying fell sharply as well, dropping from 41.9% in February to 13.5%. Meanwhile, in line with the developments observed throughout last year, exports continued to drive the industrial recovery. In March, industrial exports expanded a working day adjusted 14.5% which, nevertheless, represented a moderation over the 18.5% increase tallied in February. In contrast, production for domestic use remained in negative territory for the sixth consecutive month contracting 2.9%. A month-on-month comparison points to a decline in March, as industrial production dropped 3.6% in seasonally adjusted terms over the previous month. In its latest inflation report from March, the Central Bank revised this year's growth prospects down a notch to 2.9%, while maintaining expectations that the economy will increase 3.0% next year.
Industrial production loses steam
May 13, 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.