Hungary: Industrial production defies market expectations in September
November 9, 2012
In September, industrial output rose a working-day adjusted 0.6% over the same month last year. The increase came in below the revised 1.8% expansion seen in August (previously reported: +1.4% year-on-year) but defied market expectations of a 0.4% drop. Compared to the previous month, industrial production expanded a seasonally and working-day adjusted 0.7% in September, which was well below the 2.8% expansion observed in August. As a result of the subdued reading, annual average growth in industrial production fell from 1.0% in August to 0.8%.