Hungary: Industrial output picks up in May
July 9, 2012
In May, industrial production increased a working-day adjusted 1.9% over the same month last year. The reading marked the fastest pace of growth in five months and contrasted both the 3.1% contraction seen in April and market expectations that had industrial output declining 0.5%. Compared to the previous month, industrial output swung to a seasonally adjusted 3.2% expansion, which contrasted the 2.3% contraction observed in April. Nevertheless, the trend continued to point downwards, with annual average growth in working-day adjusted industrial production falling from 1.3% in April to 1.2% in May.