Hungary Industry


Hungary: Industrial production picks back up in November

January 8, 2015

According to preliminary data released by the statistical institute (KSH) on 8 January, industrial output in November rose a working-day adjusted 5.8% over the same month last year, representing an improvement compared to the subdued 1.7% increase observed in October. November was the best reading in four months. The reading exceeded market expectations of a 2.5% increase and marked the 18th consecutive expansion.

On a monthly basis, industrial production expanded a seasonally- and working-day adjusted 3.3% in November, contrasting October’s 2.6% contraction. Meanwhile, annual average growth in industrial production inched down from 7.2% in October to 7.1% in November, the worst result in four months.

FocusEconomics Consensus Forecast panelists expect industrial production to grow 5.4% in 2015, which is unchanged from last month’s projection. For 2016, the panel expects industrial output to expand 5.7%.

Author: Teresa Kersting, Economist

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Hungary Industry Chart

Hungary Industry November 2014

Note: Year-on-year changes and annual average variation of industrial production index in %.
Source: Hungarian Central Statistics Office and FocusEconomics calculations.

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