Hungary: Industrial production expands the most in over one year in April
June 14, 2013
According data released by the statistical institute (KSH) on 14 June, industrial output jumped a working-day adjusted 2.9% over the same month last year, ending a streak of six consecutive contractions and marking the strongest growth seen since December 2011. The print was mainly due to a significant rise in the manufacturing sector, particularly of transport equipment.
Compared to the previous month, industrial production rose a seasonally and working-day adjusted 1.2% in April, which was above the 0.4% increase seen in March. As a result of the annual expansion, annual average growth in industrial production improved, rising from minus 1.2% in March to minus 0.7% in April.
FocusEconomics Consensus Forecast panellists expect industrial production to grow 1.0% this year, which is down 0.4 percentage points from last month's projection. For next year, the panel expects industrial output to expand a stronger 3.7%.