Hungary: Industrial production maintains downward trend in March
May 7, 2013
In March, industrial output fell a working-day adjusted 0.7% over the same month last year, according to preliminary data released by the statistical institute (KSH) on 7 May. The print marks the sixth consecutive contraction which was, nevertheless, an improvement over the 1.0% decline recorded in February (previously reported: -1.1% year-on-year).
Compared to the previous month, industrial production rose a seasonally and working-day adjusted 0.4% in March, which overshot the 0.1% increase observed in February.
Building on the annual fall, the trend is pointing downwards, with annual average growth in industrial production stepping down from minus 1.1% in February to minus 1.2% in March.
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%.