Hungary: Industrial production falls for the fifth consecutive month in February
April 12, 2013
In February, industrial output fell a working-day adjusted 1.1% over the same month last year, marking the fifth consecutive contraction, according to preliminary data released by the statistical institute (KSH) on 12 April. The print, nevertheless, marks an improvement over the 1.4% decline recorded in January.
Compared to the previous month, industrial production rose a seasonally and working-day adjusted 0.3% in February, which came in well below the 2.9% increase seen in January. Despite the annual contraction, annual average growth in industrial production improved slightly, stepping up from minus 1.3% in January to minus 1.1% in February.
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%.