Hungary Industry May 2019

Hungary

Hungary: Industrial output growth up a notch in May

July 5, 2019

Industrial output increased a working-day-adjusted 6.1% year-on-year in May, up slightly from 6.0% in April. According to the Hungarian Central Statistical Office (KSH), May’s upturn was buoyed by manufacturing output in the transport-equipment industry; the manufacturing sector makes up over nine-tenths of the index.

In seasonally- and working-day-adjusted terms, industrial production rose 1.4% month-on-month in May (April: -1.1% month-on-month s.a.). Lastly, annual average growth in industrial production edged up to 4.8% from 4.6% in April.

FocusEconomics Consensus Forecast panelists expect industrial production to grow 4.8% in 2019, which is unchanged from last month’s projection. For 2020, the panel expects industrial output to grow 3.9%.


Author:, Economist

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Hungary Industry May 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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