Hungary Industry January 2017

Hungary

Hungary: Industrial output expands at start of year

March 14, 2017

According to revised data released by the Statistical Institute (KSH) on 14 March, industrial output in January rose a working-day adjusted 1.6%, which followed the 1.9% expansion observed in December. The rise was underpinned by an expansion in all three components of the index. The electricity, gas, steam and air conditioning component came first, followed by manufacturing, while mining and quarrying expanded at the softest pace.

On a monthly basis, industrial production swung from a revised seasonally- and working-day adjusted 0.4% expansion in December (previously reported: +0.5 month-on-month) to a 0.1% drop in January, a four-month low. Meanwhile, annual average growth in industrial production remained steady in February at the 0.7% print observed in December.

FocusEconomics Consensus Forecast panelists expect industrial production to grow 3.5% in 2017, which is down 0.3 percentage points from last month’s projection. For 2018, the panel expects industrial output to expand 4.7%.


Author: Jean-Philippe Pourcelot, Economist

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Hungary Industry January 2017

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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