Hungary: Industrial output growth slides in June
August 7, 2019
Industrial production rose a working-day-adjusted 4.1% year-on-year in June, which marked a deceleration from May’s 6.3% expansion. According to the Hungarian Central Statistical Office (KSH), the latest print was underpinned by slowdown in the manufacturing output in the transport-equipment industry—carrying the biggest weight in the manufacturing sector, which makes up over nine-tenths of the index. The reading also reflected cooling growth in the production of food products, beverages and tobacco products, while the manufacture of computer, electronic and optical products fell.
In seasonally- and working-day-adjusted terms, industrial production dropped 1.8% month-on-month in June, contrasting a revised 1.3% month-on-month rise in May (previously reported: -1.4% month-on-month s.a.). Lastly, annual average growth in industrial production inched up to 4.9% in June from 4.8% in May.
Author: Nihad Ahmed, Economist