Hungary: Industrial output unrevised in May
July 13, 2012
In May, industrial production increased a working-day adjusted 1.9% over the same month last year, according to revised data released by the statistical institute (KSH) on 13 July. The figure was unchanged from the preliminary estimate published on 6 June and contrasted the 3.1% contraction observed in April. In fact, the reading represents the fastest pace of growth in five months. The improvement was mainly the result of a rebound in the manufacturing sector. Nevertheless, mining and quarrying as well as electricity, gas, steam and air conditioning also fared better compared to April. Compared to the previous month, industrial output swung to a seasonally adjusted 3.2% expansion, which contrasted the 2.3% contraction observed in April. Meanwhile, the trend continues to point down, with annual average growth in working-day adjusted industrial production falling from 1.3% in April to 1.2% in May.