Hungary: Industrial output expands solidly in May
July 12, 2017
According to revised data released by the Statistical Institute (KSH) on 12 July, industrial output in May rose a working-day adjusted 6.2%, which marked a considerable improvement from April’s 2.5% expansion. The strong reading reflects faster growth in the dominant manufacturing sector and a double-digit expansion in the mining and quarrying sector, both of which more than offset a decline in the electricity, gas, steam and air conditioning sector.
On a monthly basis, industrial production swung from a seasonally- and working-day adjusted 0.7% contraction in April to a strong 2.3% increase in May. Meanwhile, annual average growth in industrial production edged up from 2.1% in April to 2.3% in May.