Hungary: Industrial production defies market expectations
October 5, 2012
In August, industrial output rose a working-day adjusted 1.4% over the same month last year, which contrasted both the 2.2% drop seen in July and market expectations that had industrial production falling 1.5%. Compared to the previous month, industrial production expanded a seasonally and working-day adjusted 2.6% in August, which contrasted the 1.2% decline observed in July. As a result of the monthly reading, annual average growth in industrial production inched up from 0.9% in July to 1.0%, breaking the downward trend in place since April last year.