Hungary Industry December 2017

Hungary

Hungary: Industrial output grows at faster pace in December

February 13, 2018

According to revised data released by the Statistical Institute (KSH) on 13 February, industrial output rose a working-day adjusted 4.5% year-on-year in December, accelerating from the 3.6% expansion observed in November. The expansion was driven by an increase in manufacturing and mining output, which more than offset a contraction in energy production. Among components, manufacturing expanded at the fastest pace, driven by higher output of transport equipment.

In month-on-month seasonally- and working-day adjusted terms, industrial production swung from a 2.1% contraction in November to a 1.2% expansion in December.

Lastly, annual average growth in industrial production jumped from 5.4% in November to 5.6% in December.

FocusEconomics Consensus Forecast panelists expect industrial production to grow 5.5% in 2018, which is down 0.3 percentage points from last month’s projection. For 2019, the panel expects industrial output to expand 4.5%.


Author: Jean-Philippe Pourcelot, Economist

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Hungary Industry December 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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