Hungary: Industrial production expands at slower pace in May
July 13, 2016
According to data released by the statistical institute (KSH), industrial output in May increased a working-day adjusted 4.2% over the same month last year. The result marked a deceleration over the 5.3% increase observed in April. The moderation mainly reflected that production in the manufacturing sector decelerated. While mining and quarrying continued to contract, albeit at a slightly softer pace than in April, the electricity, gas, steam and air conditioning supply sector picked up markedly.
On a monthly basis, industrial production fell a seasonally- and working-day adjusted 0.7% in May, contrasting April’s notable 5.5% increase. Meanwhile, annual average growth in industrial production edged down from 5.3% in April to 5.1% in May.