Hungary Industry May 2017

Hungary

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.

FocusEconomics Consensus Forecast panelists expect industrial production to grow 3.9% in 2017, which is up 0.6 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 May 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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