Hungary Industry


Hungary: Industrial production continues to speed up in July

September 5, 2014

Industrial output in July rose a strong working-day adjusted 12.3% over the same month last year. The reading, which represented an acceleration over the 11.3% increase observed in June, represents the largest pace of expansion since February 2011, according to preliminary data released by the statistical institute (KSH) on 5 September. In addition, the result marked the 14th consecutive expansion.

On a monthly basis, industrial production rose a seasonally- and working-day adjusted 1.6% in July, which came in slightly below June’s 1.8% expansion. Meanwhile, annual average growth in industrial production increased from 6.3% in June to 7.1% in July, reaching the highest results in 34 months.

FocusEconomics Consensus Forecast panelists expect industrial production to grow 6.6% in 2014, which is up 1.2 percentage points from last month’s projection. For 2015, the panel expects industrial output to expand 5.2%.

Author: Teresa Kersting, Economist

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Hungary Industry Chart

Hungary Industry July 2014

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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