Hungary: Industrial production accelerates in February
April 8, 2014
According to preliminary data released by the statistical institute (KSH) on 8 April, industrial output rose a working-day adjusted 8.1% over the same month last year in February. The reading marked an improvement over the 6.1% increase observed in January and came in above market expectations of a 5.9% increase. Furthermore, it represents the highest growth rate since April 2011.
On a monthly basis, industrial production rose a seasonally- and working-day adjusted 1.6% in February, following the 3.2% expansion observed in the previous month. Meanwhile, annual average growth in industrial production rose from 2.4% in January to 3.2% in February.
FocusEconomics Consensus Forecast panelists expect industrial production to grow 4.0% in 2014, which is up 0.3 percentage points from last month's projection. For 2015, the panel expects industrial output to expand a stronger 4.4%.
Author: Armando Ciccarelli, Head of Data Solutions