Hungary: Industrial output expands at quickest pace in six months in January
According to a second estimate by the Statistical Institute, industrial output increased 7.1% in year-on-year terms in January, which was above December’s 3.6% increase. January’s rise was largely driven by faster growth in manufacturing output. In contrast, mining and quarrying output weakened.
On a seasonally-adjusted monthly basis, industrial production rebounded, rising 1.9% in January (December: -0.1% mom). Meanwhile, the trend improved sizably, with the annual average growth of industrial production coming in at 22.3%, up from December’s 20.8% reading.