Hungary Industry January 2019


Hungary: Industrial output growth eases in January

March 27, 2019

According to the Hungarian Central Statistical Office (KSH), industrial output increased a working-day adjusted 5.0% year-on-year in January, easing from the 5.7% increase in December 2018. January’s reading was held back by growth in the manufacturing sector, which makes up over nine-tenths of the index. Mining and quarrying output, as well as the utilities supply, on the other hand, each witnessed upbeat growth.

In month-on-month, seasonally- and working-day adjusted terms, industrial production growth slowed to 0.6% from 2.6% in December 2018.

Lastly, annual average growth in industrial production ticked down to 3.8% from 3.9% at last year-end.

FocusEconomics Consensus Forecast panelists expect industrial production to grow 4.1% in 2019, which is down 0.1 percentage points from last month’s projection. For 2020, the panel expects industrial output to grow 4.0%.

Author:, Economist

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Hungary Industry Chart

Hungary Industry January 2019

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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