Hungary Industry


Industrial production moderates slightly in March

According to preliminary data released by the statistical institute (KSH) on 8 May, industrial output rose a working-day adjusted 8.1% over the same month last year in March. The reading marked a slight moderation over the 8.2% increase observed in February (previously reported: +8.1% year-on-year) and came in above market expectations of a 7.4% increase.

On a monthly basis, industrial production rose a seasonally- and working-day adjusted 0.4% in March, which was below the 1.4% expansion observed in February. Meanwhile, annual average growth in industrial production rose from 3.3% in February to 4.0% in March, which marked the highest print in over two years.

FocusEconomics Consensus Forecast panelists expect industrial production to grow 4.2% in 2014, which is up 0.2 percentage points from last month's projection. For 2015, the panel expects industrial output to expand a stronger 4.4%.

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Hungary Industry Chart

Hungary Industry March 2014

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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