Hungary: Growth in industrial production slows in January

According to preliminary data released by the statistical institute (KSH), industrial output in January rose a working-day adjusted 2.2% over the same month last year. The result was notably below the revised 6.8% increase observed in December (previously reported: +6.9% year-on-year) and marked the smallest expansion since October 2014.

On a monthly basis, industrial production fell a seasonally- and working-day adjusted 0.1% in January, which followed December’s 0.7% decrease. Meanwhile, annual average growth in industrial production deteriorated from 7.2% in December to 6.6% in January.

FocusEconomics Consensus Forecast panelists expect industrial production to grow 4.8% in 2016, which is up 0.1 percentage points from last month’s projection. For 2017, the panel expects industrial output to expand 4.9%.