Hungary Industry May 2015

Hungary

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.

FocusEconomics Consensus Forecast panelists expect industrial production to grow 4.1% in 2016, which is unchanged from last month’s projection. For 2017, the panel expects industrial output to expand 5.3%.


Author: Teresa Kersting, Economist

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Hungary Industry May 2016 1

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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