Hungary Industry January 2018

Hungary

Hungary: Growth in industrial production quickens in January

March 19, 2018

According to revised data released by the Statistical Institute (KSH) on 19 March, industrial output rose a working-day adjusted 6.7% year-on-year in January, accelerating from the 5.0% increase recorded in December and confirming the flash release.

The expansion was driven by higher manufacturing and mining output, which more than offset a contraction in energy production. Looking at the subcomponents of manufacturing, which constitute 95% of the industrial production index, manufacturing of transport equipment; computer, electronic, and optical products; and food products, beverages and tobacco products increased the most.

In month-on-month seasonally- and working-day adjusted terms, industrial production edged up from a revised 1.1% increase in December (previously reported: +1.2% month-on-month) to 1.5% in January.

Lastly, annual average growth in industrial production jumped from 5.6% in December to 6.0% in January, the best reading since February 2016.

Hungary Industrial Production Forecast


FocusEconomics Consensus Forecast panelists expect industrial production to grow 5.5% in 2018, which is down 0.3 percentage points from last month’s projection. For 2019, the panel expects industrial output to expand 4.5%.


Author: Jean-Philippe Pourcelot, Economist

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Hungary Industry Chart


Hungary Industry January 2018

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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