Hungary Industry July 2015

Hungary

Hungary: Industrial production contracts again in July

September 6, 2016

According to preliminary data released by the Statistical Institute (KSH) on 6 September, industrial output in July shrank a working-day adjusted 0.1% over the same month last year, marking a softer drop than June’s 0.3% decrease.

On a monthly basis, industrial production fell a seasonally- and working-day adjusted 0.4% in July, which followed June’s more pronounced 2.4% decrease. The overall trend continued to point downward as annual average growth in industrial production edged down from 4.5% in June to 4.2% in July, marking the lowest reading in over two years.

FocusEconomics Consensus Forecast panelists expect industrial production to grow 3.8% in 2016, which is up 0.1 percentage points from last month’s projection. For 2017, the panel expects industrial output to expand 4.4%.


Author: Teresa Kersting, Economist

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Hungary Industry July 2016

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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