Hungary: Industrial production growth moderates to a 10-month low in August
October 7, 2019
Industrial production grew a working-day-adjusted 2.7% year-on-year in August, down from July’s 8.7% expansion and marking the lowest reading since October 2018, according to a first estimate released by the Hungarian Central Statistical Office. August’s moderation largely reflected slower production growth in the manufacture of transport equipment and a decrease in the manufacture of food products, beverages and tobacco. Meanwhile, output slightly accelerated in the manufacture of computer, electronic and optical products.
In seasonally- and working-day-adjusted terms, industrial output fell 1.2% month-on-month in August, contrasting the 1.7% expansion logged in July. Lastly, annual average growth in industrial production decreased marginally from 5.3% in July to 5.2% in August.
Author: Hanna Andersson, Economist