Hungary: Industrial production growth meets preliminary estimate
March 12, 2014
According to more detailed data released by the statistical institute (KSH) on 12 March, industrial output rose a working-day adjusted 6.1% over the same month last year in January. The reading met the preliminary estimate and marked an improvement over the 4.4% increase observed in December. On a monthly basis, industrial production rose a seasonally- and working-day adjusted 3.1% in January, which contrasted the 1.8% fall observed in the previous month. The month-on-month increase represented the fastest pace since May 2012. Meanwhile, annual average growth in industrial production rose from 1.8% in December to 2.4% in January. FocusEconomics Consensus Forecast panelists expect industrial production to grow 3.7% in 2014, which is down 0.2 percentage points from last month's projection. For 2015, the panel expects industrial output to expand a stronger 4.0%.
Author: Dirina Mançellari, Senior Economist