Hungary Industry December 2016

Hungary

Hungary: Industrial output expands in December

February 14, 2017

According to revised data released by the Statistical Institute (KSH) on 14 February, Hungarian industrial output in December rose a working-day adjusted 1.9%, coming in above the revised 0.8% expansion observed in November (previously reported: +0.6% year-on-year). The rise was underpinned by an expansion in manufacturing which more than offset sharp drops in mining and quarrying and in electricity, gas, steam and air conditioning.

On a monthly basis, industrial production decelerated from a revised seasonally- and working-day adjusted 0.8% expansion in November (previously reported: +0.9 month-on-month) to 0.5% growth in December. The overall trend continued to point downward as annual average growth in industrial production dipped from 1.2% in November to 0.8% in December, marking the lowest reading in over three years.

FocusEconomics Consensus Forecast panelists expect industrial production to grow 3.8% in 2017, which is down 0.2 percentage points from last month’s projection. For 2018, the panel expects industrial output to expand 4.9%.


Author: Jean-Philippe Pourcelot, Economist

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Hungary Industry December 2016 0

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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